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5-,/4-7 <br /> <br /> x~~ 1601 E1 cammo Real O R~ Ci~, CA ~63 ------ <br /> ~.[0w~e[0[~.C0~ 650-3~-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 continued 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 Acura 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 of a new Acura facility requires a major investment, which cannot <br />practically be made on leased land. <br /> <br />Presently, we would like to acquire the 053-180-182-1&2. <br /> <br />Towne Ford has operated in Redwood City for over 76 years. In that time, we have <br />continually employed sumc 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 intention 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 be substantially improved to facilitate automotive <br />use throu~ new construction, remodeling and reconfiguration of the existing prol~rty <br />and facilities. <br /> <br /> <br />