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1601 El Camino Real ~ Redwood Civ. CA 94063 <br /> 650-366-5744 <br /> <br /> REDWOOD CITY REDEVELOPMENT AGENCY <br /> STATEMENT OF INTEREST IN PARTICIPATING <br /> <br /> ADDENDUM #2 <br /> <br />7C: <br /> <br />In order to facilitate the cominued operation of Towne Ford, Hopkins Acura and Isuzu of <br />Redwood City, it is imperative that sufficient property be available to construct and <br />maintain a working infrastructure for sales, service and display of the various franchises. <br />Presently, Hopkins Acm and Isuzu of Redwood City operate exclusively on leased land <br />on a month to month lease agreement, while Towne Ford operates partially on the same <br />leased land. <br /> <br />Due to Acura Factory facilities requirements, Hopkins Acura must now construct a new <br />showroom and service facility. Please find attached Acura's prototypical design for their <br />showroom and office facilities as suggested by Acura. <br /> <br />The construction ora new Acura facility requires a ~najor investment, which cannot <br />practically be made on leased land. <br /> <br />Presently, we would tike to acquire the 053-180-182-1&2. <br /> <br />REMARKS: <br /> <br />Towne Ford has operated in Redwood City for over 76 years. In that time, we have <br />continually employed some 100 to 150 employees in high paying jobs. Towne has <br />contributed substantially to the economy of Redwood City, and participated in both <br />public and private sector growth. <br /> <br />Because of changes in the retail marketing of Automobiles, it is now necessary to. <br />combine additional new franchises in an "auto mall" setting in order to remain <br />economically viable. This requires additional space for growth, as well as some <br />revamping of existing facilities. Towne Ford has already begun this process through the <br />recent acquisition of the Isuzu franchise. It is not our intemion to move franchises from <br />another location, but rather to add additional new franchises that have additional planning <br />areas, which could be well represented in Redwood City. <br /> <br />We believe that the Phase 1 area can he substantially improved to facilitate automotive <br />use through new construction, remodeling and reconfiguration of the existing property <br />and facilities. <br /> <br /> <br />