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Lot Size: <br />Current Zoning: <br />Property Type: <br />Estimated Current Value: <br />Appraisal Completed: <br />Estimated Revenues: <br />Recommended Action: <br />• Purpose of Acquisition <br />27,830 sq. ft. <br />Specific Development 84 <br />Parking Lot <br />$610,238 (Assessed Value) <br />No <br />N/A <br />Retain to Fulfill Enforceable Obligation <br />This property was acquired for future development in the Central City Redevelopment <br />Project Area. <br />• Brief History of Previous Development Proposals and Activity <br />A Parking Space Agreement dated May 18, 1993 was entered into between the former <br />RDA and Builders Exchange Associates ( "BEA ") that assured the future availability of 60 <br />parking spaces on the RDA owned parcel exclusively for the use of BEA and its agents, <br />employees, and invitees. An easemenst also exists for ingress and egress to provide entry <br />to the parking lot. The former RDA and its successive owners of the property are bound <br />by this agreement to provide the 60 spaces for the benefit of the BEA property and its <br />successive owners. <br />• Description of Contractual Requirements for Disposition of Revenues Generated by <br />Property <br />N/A <br />• History of Environmental Contamination of Remediation Efforts <br />N/A <br />• Potential for Transit- Oriented Development <br />N/A <br />Plan for Use /Disposition <br />The Successor Agency is bound by the original agreement to provide the 60 parking spaces <br />indefinitely for use by the BEA property owner. Therefore, this property cannot be <br />developed nor disposed and must be retained by the Successor Agency for compliance <br />with the agreement. <br />Successor Agency to the former Community Redevelopment Agency oft he City of Santa Ana —Long Range Property Management PIa an <br />4 -16 <br />LEI <br />