Item 17 - Public Hearing - Purchase and Sale Agreement for 1901 W. Walnut Street

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EXHIBIT 1 THRIVE Santa Ana, Inc. Community Land Trust 1907 West Walnut Street, Unit 100 Santa Ana, CA 92703 `1 thrivesantaana.ora October 17, 2025 VIA ELECTRONIC MAIL City of Santa Ana 20 Civic Center Plaza Santa Ana, CA 92701 Attn: Mike Garcia Economic Development Agency Re: 1901 W Walnut Street Dear City of Santa Ana, Staff and Council, THRIVE Santa Ana, Inc. ("THRIVE" or "Buyer") hereby submits this Letter of Intent (this "Letter") to the City of Santa Ana ("Seller"), the current owner of 1901 W Walnut Street (the "Property"). The proposed terms of THRIVE's purchase, subject to approval and due diligence by both THRIVE and the City, are as follows: PURCHASE PRICE: A negotiated fair market value agreed to by both parties based on appraisal. Seller shall conduct an appraisal of the site with consideration for the separate value of land and improvements owned by THRIVE. FINANCING: A state grant, the California Jobs First initiative, shall reimburse THRIVE for the purchase of this Property. A copy of the grant agreement is provided hereto as Exhibit A. DEPOSIT: THRIVE shall deposit, concurrently with the acceptance of this Letter, a $5,000 deposit to the Seller to be applied towards the appraisal, escrow fees, and purchase price for the Property. DUE DILIGENCE: Buyer will complete due diligence with regard to the Property, including review of property information, and a current title report with underlying documents, within 30 business days after such items have been provided by Seller. Seller will make a good faith effort to provide to Buyer copies of all property information within 5 days of execution of a purchase agreement. Seller will timely complete review and approval of the sale of the Property, including confirmation that the sale is in compliance with state Surplus Lands Act, environmental, and any other requirements.