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Resolution Approving Acquisition Agreement, <br />Mutual Release and Joint Escrow Instructions with <br />Vinci Investment Co., Inc. <br />January 3, 2006 <br />Page 3 <br />The Santa Ana Auto Mall generates $3.9 Million (FY 04 /05)in sales taxes <br />to the General Fund. As the two top sales tax generators, as well as the <br />"front door" to the Auto Mall, expansion and redevelopment of Crevier BMW <br />and Honda Santa Ana will anchor the Auto Mall as a solid long term <br />financial and community resource. Additionally, combined with the <br />imminent reconstruction and upgrading of Edinger Avenue and continued <br />growth at PacifiCenter, these new and redeveloped BMW and Honda <br />dealerships will be major contributors to revitalizing the Edinger <br />corridor. <br />FISCAL IMPACT <br />Total payments by the Agency will be $6,025,000. Funds are available in <br />the South Main Tax Allocation Bond Capital Project account (account no. <br />552 - 936- 6611). <br />Patricia C. Whitaker <br />Executive Director <br />PCW /JF /mlr <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />H: \ACTIONS \2006 CRA \Honda Settlement 12 -27 -05 CRA 1- 3- 06A.doc <br />1 / <br />