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track record of success operating similar hotels and classified as a 3 star or above in a 5-star <br />rating system as widely recognized and commonly used in the hospitality industry. <br />4.1.3. Graffiti Removal. Owner shall also install and maintain graffiti protection on new <br />surfaces and shall, within 48 hours of discovery of graffiti, cause it to be removed and associated <br />restorations completed throughout the Project. <br />4.2. Local Live -Work Preference. Prior to issuance of any building permits, Owner shall <br />develop and submit to the City Manager or the City Manager's designee, a local live -work plan <br />for the Project targeting, to the extent feasible and consistent with state and federal fair housing <br />laws, a preference or priority for persons who currently either live or work in the City of Santa <br />Ana for the rental or sale of residential units at the Project. <br />4.3. Local Sourcing Plan. Owner agrees to make a good -faith effort to encourage contractors <br />and suppliers to hire and procure locally, to the extent that it is cost effective and does not delay <br />the overall project development schedule. <br />REVIEW FOR COMPLIANCE. <br />5.1. Periodic Review. <br />5.1.1. The City shall review this Agreement annually, on or before the anniversary of <br />the Effective Date, in. order to ascertain the compliance by Owner with the terms of this <br />Agreement ("Annual Review"). Owner shall submit an Annual Monitoring Report, in a form <br />acceptable to the City Manager, within thirty (30) days after written notice from the City <br />Manager. The failure of the City to conduct the Annual Review shall not constitute a default by <br />Owner. The Annual Monitoring Report shall be accompanied by an "Annual Review and <br />Administration Fee" sufficient to defray the estimated costs of review and administration of the <br />Agreement during the succeeding year. The amount of the Annual Review and Administration <br />Fee" shall be set annually by resolution of the City Council. <br />5.1.2. The Annual Review shall include a progress report on the status of the <br />implementation of the Project and the new tax revenue generated by the Project, including, but <br />not limited to, the following: <br />(a) Development and construction progress of the following uses and Project <br />components: <br />(i) Site development <br />(ii) Public infrastructure, <br />(iii) Project design features, <br />(iv) Community benefits, <br />(v) Plaza, <br />(vi) Hotel, <br />(vii) Residential, <br />-16- <br />55394.00053\31891805.16 <br />