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FIESTA MARKETPLACE PARTNERS'`= <br />C/O S & A PROPERTIES) <br />129 W. WILSON ST. <br />SUITE 100 <br />COSTA MESA, CA 92627 <br />949-722-7400 <br />949-722-8855 FAX <br />October 18, 2010 <br />Cynthia J. Nelson, Deputy City Manager <br />City of Santa Ana <br />Community Development Agency <br />20 Civic Center Plaza -- Post Office Box 1988 — M-25 <br />Santa Ana, CA 92702 <br />RE: City of Santa Ana Facade Rebate Program <br />Fiesta Marketplace Partners One and Two <br />Raymond and Delia Rangel <br />Dear Cindy: <br />This letter will serve to memorialize the agreement that the Fiesta Marketplace Partners <br />One and Two and Raymond and Delia Rangel have reached with the City concerning the <br />City's Facade Rebate Program. <br />The Fiesta Marketplace Partners and Raymond and Delia Rangel will invest, in their <br />respective properties, approximately $4,125,000.00 and will receive from the City's <br />Facade Program approximately .$82500000 (Cash contribution from Fiesta Marketplace <br />Partner One and Two is $3,245,000,00 and Raymond and Delia Rangel is $55,000.00). <br />Exhibit "A", attached hereto, sets -forth detail of these expenditures. <br />The Fiesta Marketplace Partners shall invest an estimated $580,000.00 to renovate the <br />public gathering area currently known as "The Paseo". The City owns a part of The <br />Paseo that fronts the City -owned surface parking lot at Third and Bush Streets. The <br />Fiesta Marketplace Partners will renovate The Paseo at its' own expense and not seek <br />reimbursement from the City for the approximately one-fourth of renovation costs, <br />which translates to about $120,000.00, that would be apportioned to the one-fourth of <br />The Paseo that the City owns. <br />Sincerely yours, <br />.Fiesta Marketplace Partners One and Two <br />'Raymond and Delia Rangel <br />By: Irving M. Chase, General Partner <br />cc: Allan Fainbarg <br />Ryan Chase <br />Raymond and Delia Rangel <br />David Scheppers, CPA <br />