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Memo: Economic Development Update <br />August 16, 2016 <br />• The City was the Silver sponsor for the 2016 Taste of Santa Ana, an event hosted by the <br />Chamber of Commerce at Main Place Mall. <br />• The City sponsored the Santa Ana Street Breakfast with over 1,000 people attending this event. <br />Small Business Development <br />• Provided over 42 small business incentive program (CDBG) grants since inception (FY13/14) <br />with a 70% success rate in businesses still being open and viable (6 businesses closed). <br />Statistics show only 2/3 of businesses survive for 2 years, half survive for 5 years and 1/3 will <br />survive for ten years. <br />New Development Projects along Harbor Blvd <br />• The Line — 228 -unit mixed -use development with 4,000 square feet of retail along future fixed - <br />guideway line <br />• C&C Harbor /Hazard - 70 -unit affordable development project on 2.16 acres. <br />• 5`h and Harbor - 99 residential units and 10,700 square feet of commercial /retail. <br />• 520 S. Harbor - North of Harbor /McFadden —35 single - family detached homes on 2.27 acre <br />site <br />• Tribella Mixed Use Development - North Harbor between 11`h and Washington_ 15 live /work <br />units and 95 single - family detached homes. <br />Downtown Development <br />• It is anticipated that the City will begin the installation of the new Downtown Wayfinding <br />signage system in August- September 2016. <br />• In May 2014, the City unveiled a valet parking program at the parking lot of 3rd and Bush from <br />8pm to tam. <br />• Continued administration of the City's Downtown Business Improvement District (BID), with <br />over 700 businesses, generates over $400,000 in marketing and promotional revenue for the <br />area. <br />In June 2016, the City launched a midweek lunch trolley in partnership with the Downtown <br />Santa Ana Restaurant Association. The free trolley service connects City Hall and the OC <br />Courthouse to Downtown Santa Ana's 70+ restaurants. <br />• The City continues to partner with the Downtown BID groups to host special events that <br />attract visitors and promote downtown Santa Ana. In 2016, these special events include: the <br />Santa Ana Media Summit, the Santa Ana Street Breakfast, and Savor Santa Ana. <br />• From January to June 2016, City staff led more than twenty tours highlighting Downtown <br />Santa Ana. Tours included real estate developers, prospective new businesses, brokers, and <br />investors. <br />• Modernized parking meters downtown has resulted in over $800,000 in additional revenue. <br />5 <br />19G -7 <br />