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EXHIBIT C <br />SALES TAX LOAN AGREEMENT <br />This SALES TAX LOAN AGREEMENT ("Agreement") is made and entered into this — <br />day of October, 2017, by and between the Santa Ana Auto Mall Dealers Association, LLC, a <br />California limited liability company ("Auto Mall"), and the City of Santa Ana, a charter city and <br />municipal corporation organized and existing under the Constitution and laws of the State of <br />California ("City"). <br />RECITALS <br />A. Sales tax assistance is an economic development tool used to encourage the <br />development or upgrade of businesses that create additional sales tax for a City. The purpose of <br />this Agreement is to help pay the costs of installing a new 75 -foot tall double face digital <br />illuminated pylon sign at the Santa Ana Auto Mall located at 1505 South Auto Mall Drive. <br />B. The City has maintained a long and successful relationship with the Auto Mall for <br />approximately 40 years. During that time the Auto Mall has become a regional destination in <br />purchasing and/or leasing vehicles. As a result of the successful business environment for the <br />Auto Mall, it has been a high performing Sales Tax generator for the City. <br />C. During the past five years, the Auto Mall has undergone extensive renovation of <br />its facilities, which include modernization of the various components of the existing dealers for <br />consumers as well as expansion of its inventory base. Also it has attracted new franchises / <br />dealers to the Auto Mall expanding their vehicle selection. This recent investment has allowed <br />the Auto Mall to remain competitive with other nearby dealers and has provided for future increase <br />in the amount of vehicles to be sold/leased resulting in both higher revenue and greater sales tax <br />for the City. <br />D. In order to continue leveraging the investment of its dealers, the Auto Mall <br />approached the City to assist with the purchase and installation of a new double face digital <br />illuminated pylon sign at the Santa Ana Auto Mall ("Sign"). The Sign will have a total height of 75 <br />feet and a maximum signable area of 1,200 square feet. The Sign will contain up -to date LED <br />technology and disclose the various dealers in business at the Auto Mall along with the various <br />incentives for prospective buyers. A true and correct copy of Auto Mall's initial request letter to <br />the City is attached hereto as Exhibit A and incorporated herein by reference. <br />E. The Sign will be utilized as the primary advertising medium for the Auto Mall, <br />reaching approximately 250,000 vehicles a day traversing on the 55 freeway. The Sign will help <br />provide an enhanced method of business identification and advertising and will contribute to the <br />community and the City by advertising the Auto Mall regionally. The Auto Mall recognizes that <br />the current sign is obsolete in nature and the new Sign will help ensure that the Auto Mall remains <br />competitive to other automobile centers in the area. <br />F. Electric Media, Inc. ("EMI") is the vendor designated by the Auto Mall to demolish <br />the existing sign, and install the new Sign. The City's sole responsibility as part of this Agreement <br />is to furnish payment to EMI on behalf of the Auto Mall. Subsequently, the Auto Mall will be <br />responsible for the operation, maintenance and liability of the Sign. The total Sign costs will be <br />$1,032,948.00. A true and correct copy of EMI's purchase order is attached herewith as Exhibit <br />B and incorporated herein by reference. <br />75A-21 <br />