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prime locations visible to the public from currently existing public right-of-way, one or more permanent works of public art (the "Public Art"). The Owner shall design and/or construct the facilities specified below prior to the corresponding triggering event specified in Section 5.8.1 below. The Public Art shall conform in all respects to Exhibit C of this Agreement, the "Public Art Locational Plan." 5.8.1 Work of Public Art. F::lC":;l;tip.~ to Hf": rnn.c::tn1C~tp.tf Triggf":ring FVf>:nt (Ii: g . Np.w TT.c::p. or Np.w Arf~~) I. Submit Final Design of Public Art. Final design must conform to Public Art Locational Plan. 2. Install Public Art. Prior to issuance of first Building Permit Prior to the City's issuance of Certificate of Use and Occupancy for any building. With respect to the Final Design, Owner shall complete all construction and development, shall submit all plans, drawings, and other documents, and perform all of its obligations under this Agreement within the times specified above. During periods of construction of the work of public art encompassed in the Public Art Locational Plan, Owner shall submit to the City a written report of the progress of the construction when and as reasonably requested by the City. The report shall be in such form and detail as may be reasonably required by the City, and shall include a reasonable number of construction photographs (if requested) taken from the last report by Owner. Development scheduling or date or times of performance may be subject to revision from time to time if first mutually agreed to in writing. Such revisions do not constitute amendments requiring further notice and public hearing. 5.8.2 Inclusionary Housing Fee. Owner shall pay to the City the sum of $3,000.00 per residential unit (or live-work unit) as a condition of issuance of each building permit. The Inclusionary Housing Fee shall be used by the City for planning (including but not limited to preparation of one or more elements of its general plan or for zoning amendments), conceptual design, final design, bid preparation, award of bid, property appraisal, property acquisition, relocation, lost goodwill, and/or construction of new or substantially rehabilitated existing affordable housing in the City. 5.8.4. Park Development Fee. The Owner shall pay an "in lieu" fee in furtherance of the standard established by section 34-200 et seq. of the Santa Ana Municipal Code, in an amount equal to $345,800.00 (209.1 square feet of park space per residential unit x $36.75 per square foot x 45 residential units); provided, however that the fee maybe increased yearly by the average rate of increase in land costs in the City of Santa Ana, as that increase is established by the annual change in the "Construction Cost Index-Los Angeles," published by Engineering News-Record, or substitute index chosen by the Executive Director should this index is discontinued. The fee shall be paid prior to issuance of the first building permit for that II Ordinance NS-2700 Page 150f41