FIESTA MARKETPLACE PARTNERS (3) - Laserfiche WebLink

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Deputy City Manager/Development January 20, 1987 Page 2 The second agreement is between the Fiesta Marketplace Partners and the City of Santa Ana for the lease of the Mercado, located at the northwest corner of Fourth and French Streets. Under. this Agreement, the Partnership agrees to lease the Mercado for 35% of the net income. The lease begins when the Fiesta Marketplace is issued a Certificate of Completion on the total project and terminates on December 31, 1999.. Under the terms of the Agreement, the lease payments shall be paid to the Downtown Santa Ana Business Association (DSARA). This is a triple net lease with the Partnership responsible for all maintenance of the site. The developer will be upgrading the appearance with landscaping, new signage, and other graphic materials. The DSABA has been informed of the lease and concurs with the proposed terms. The third agreement is also between the City and Fiesta Marketplace Partners and pertains to the building being constructed at 305 East Fourth Street. This building will house retail space and a walk-in theater complex. On the east side of the building is a food court that opens onto the existing Mercado area. This Agreement provides that as long as the Agency retains title to the Mercado site, no building shall be constructed within 20 feet of the property line that separates the buildings. If the Agency sells the site to anyone other than the Partnership, the Partnership agrees to close off the door and/or window.openings on the east wall of the building. This Agreement is necessary so that building permits may be issued and the project built as originally conceived with an open air marketplace on the Mercado site. The fourth agreement is between Fiesta.Marketplac,e Partners and the City and pertains to that portion of Spurgeon Street between Third and Fourth Streets closed to vehicular traffic, and improved as an open-air market called "The Paseo". This License Agreement provides a revocable license to the Partners to use' that portion of Spurgeon Street between Third and Fourth Streets for the vending of food, drinks and artifacts and also allows for displays and promotional activities. The agreement requires any vendor who may use the property to maintain liability insurance to name the City as additional insured. Indemnifica- tion to the City is also required of the Fiesta Partners. The. license granted is subordinate to the public right-of-way for right-of-way purposes. ALTERNATIVES CONSIDERED No alternatives have been considered as these agreements are necessary for the implementation of the project.