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<br /> <br /> <br /> <br /> <br /> <br /> grouped permanent work of public art (the "Public Art"). The Public Art shall conform in all <br /> respects to Exhibit C of this Agreement. <br /> <br /> Facilities specified in seetien Section 5.8.1 below must be designed and/or <br /> constructed prior to the triggering event. In the event that Owner fails to meet either of the <br /> triggering events set forth in seetio Section 5.8.1., below, Owner shall pay the City an amount <br /> equivalent to one-half of one percent (0.5%) of the estimated value of its Project, as conclusively <br /> specified by the Executive Director of the City's Planning and Building Agency, to be used by <br /> the City to acquire other public art for other locations within the City, in which case, Owner will <br /> not be considered in default under this Agreement. <br /> 5.8.1 Work of Public Art. <br /> <br /> Items to Be Complete Triggering Event E.g., New Use or New Area) <br /> <br /> 1. Submit Final Design of Public Art. Prior to issuance of first Building Permit or five <br /> Final design must conform to Public Art (5) years from the effective date of this Agreement, <br /> Plan. whichever comes first. <br /> I <br /> 2. Install Public Art. Prior to City's issuance of the first Certificate of <br /> Occupancy for any building or structure, or the <br /> expiration of the term of this Agreement, <br /> whichever comes first. <br /> <br /> <br /> With respect to the Final Design, Owner shall complete all construction and <br /> development, shall submit all plans, drawings, and other documents, and perform all of its <br /> obligations under this Agreement within the times specified above. During periods of <br /> construction of the work of public art encompassed in the Public Art Plan, Owner shall submit to <br /> the City a written report of the progress of the construction when and as reasonably requested by <br /> the City. The report shall be in such form and detail as may be reasonably required by the City, <br /> and shall include a reasonable number of construction photographs (if requested) taken from the <br /> last report by Owner. Development scheduling or date or times of performance maybe subject to <br /> revision from time to time if first mutually agreed to in writing. Stich revisions do not constitute <br /> amendments requiring further notice and public hearing. <br /> 5.8.2. Inclusionary Housing Fee. Owner shall pay to the City the sum of <br /> $3,000.00 per residential unit as a condition of issuance of each building perrnit. This fee shall <br /> apply to all units developed on the existing three and one-tenth Q.1) gross acres. This fee shall <br /> be used by the City for planning (including but not limited to preparation of one or more <br /> elements of its general plan or for zoning amendments), conceptual design, final design, bid <br /> preparation, award of bid, property appraisal, property acquisition, relocation, lost goodwill, <br /> and/or construction of new or substantially rehabilitated existing affordable housing in the City. <br /> Alternatively, Owner may at any time cease making such payments if it enters into an agreement <br /> with the Community Redevelopment Agency or the Community Development Agency of the <br /> City of Santa Ana to either (i) newly construct or rehabilitate and sell or lease, with affordability <br /> covenants as required by State law, 42 inclusionary housing units totaling fifteen percent (thet <br /> <br /> <br /> <br /> 114-19 <br />