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Subject to escrow instructions, and in accordance with the progress payment schedule <br />determined in advance between Agency and Owner, the escrow funds shall be released as <br />follows: Agency and applicant funds shall be drawn upon equally as progress payments <br />are released. To implement this option, an approved project milestone and phased <br />budget schedule will be established prior to the application approval and reflected <br />in the escrow instructions. Owner must pay any cost associated with establishment <br />and use of the escrow account. <br />IV. Project Requirements <br />• Project location must be within the Downtown target area (please refer to map). <br />• Facade improvements must follow City design guidelines. Additionally, any non- <br />conforming improvements must be removed, if physically feasible. Improvements on <br />registered historic buildings may require approval from the Historic Resources <br />Commission and must comply with Secretary of Interior standards. <br />• Facade program covers the first two stories of building. Exterior historic architectural <br />features above this level will be accepted on a case-by-case basis with Agency Board <br />approval. <br />• Complete rebate application must be submitted and approved by rebate committee <br />and Agency Board prio~^ to commencement of work. <br />• Supporting documentation may include an architectural rendering (depending upon <br />the extent of the proposed improvements), landscape and irrigation plans, sign plans, <br />paint chips and types of materials to be used and desired color schemes. <br />• All project improvements shall comply with current City codes and ordinances. <br />• If occupied, all tenants must have Certificate of Occupancy prior to being allowed to <br />participate in the program. <br />• All project costs must be paid by check and reimbursement requests must include <br />cancelled checks, with correlating invoices and receipts. <br />• Contractor(s) and subcontractor(s) must comply with all state and local laws <br />and regulations pertaining to Prevailing Wage. <br />• Suitable landscaping shall be used to aid in the preservation of community scale and <br />character. <br />• Owner must complete a Facade Improvement Rebate Program application package. <br />V. Documentation Needed <br />• Signed "Rebate Terms and Conditions" form. <br />• Signed "Facade Improvement Rebate Program Application" form. <br />• Signed "Property Maintenance Agreement" form. <br />• Signed "Contractor Resume" form. <br />• Submission of three contractor bids and Contractor Bid Sheet. <br />• Signed contractor qualification statement, as applicable, including contractor's <br />license. <br />• Copy of contractor's Santa Ana business license. <br />• Evidence of all City Planning and Building permits. <br />• Legal documentation indicating the authorized person to sign the application. <br />• Approved signage program, as applicable. <br />• Approved landscape plans, as applicable. <br />• Project description and. budget <br />6 e 8 EXHIBIT 3 Updated 05/06/2011- Edwards CRA <br />