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

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EXHIBIT 4 Economic Development Subsidy Report Pursuant to Government Code Section 53083 For the Sale of City Property to THRIVE Santa Ana, Inc. Pursuant to Government Code Section 53083, the City Council of the City of Santa Ana must hold a noticed public hearing and, prior to the public hearing, provide all of the following information in written form and available to the public through the City's website regarding a proposed economic development subsidy provided by the City pursuant to sale of city -owned property at 1901 W. Walnut Street, Santa Ana, CA 92703, with THRIVE Santa Ana, Inc. Notice was published on February 2, 2026 for a Public Hearing to be held on February 17, 2026. The purpose of this report is to provide the information required pursuant to Government Code Section 53083 in regards to the Purchase and Sale Agreement. This report shall remain available to the public and posted on the City's website until the end date of the economic development subsidy, as further described in number 2 below. (1) The name and address of all corporations or any other business entities, except for sole proprietorships, that are the beneficiary of the economic development subsidy, if applicable. The Agreement is with THRIVE Santa Ana, Inc., a 501(c)(3) tax exempt California Public Benefit Corporation. THRIVE Santa Ana, Inc. P.O. Box 1935 Santa Ana, CA 92702 (2) The start and end dates and schedule, if applicable, for the economic development subsidy. Upon City Council approval of the Purchase and Sale agreement, the start date for the subsidy will commence on February 17, 2026 upon execution of the agreement. (3) A description of the economic development subsidy, including the estimated total amount of the expenditure of public funds by, or of revenue lost to, the local agency as a result of the economic development subsidy. The economic development subsidy is in the form of accepting a below market value offer to purchase city -owned property at 1901 W. Walnut Street, Santa Ana, CA, 92703. The fair market value of the property based on an appraisal was $1,030,000. The City Council approved accepted purchase price was $852,000. The estimated amount of lost revenue is $178,000. No expenditure of public funds is anticipated by this agreement.