6B(3) Dev Agr LaSalle Hotel - Laserfiche WebLink

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i 1 s t conjunction and in accordance with this Agreement by the later of November 1, 2016 or twenty (20)months following Closing,whichever is later. 4.7 Reporting Obligations. I (a) Upon the letting of contracts for substantial portions of the Project and again j upon substantial completion of the Project, Developer hereby agrees to report to the ii Commission the number of local contractors and local laborers involved in the Project,the amount of bid awards for each contract related to the Project, and information regarding which contractor is awarded each contract with respect to the Project. 1 (b) On or before April 15, June 30, September 30 and December 31 of each year until substantial completion of the Project,Developer shall submit to the Commission a report demonstrating Developer's good-faith compliance with the terms of this Agreement. This report shall include the following information and documents: (i)a status report of the construction completed to date, (ii)an update on the project schedule,and (iii) an itemized accounting generally identifying the Private Investment to date. iii (c) On or before April 15 of the year that is one year after substantial completion of the Project and on each April 15 thereafter until April 15 of the year which is three years after substantial completion of the Project,Developer shall submit to the City a report with the following information: (i) the number of jobs created as a result of the Project and wage and benefit information for the jobs created;and(ii)a detailed description of the of the job and wage details for the number of people employed by the Project. 4.8 Submission of Plans and Specifications. Developer has made the Site Plans, specifications and other planning materials of the Project available to the Commission as identified on Exhibit B attached hereto and incorporated herein. Subject to the terms and conditions of this Agreement, Developer shall construct, or cause to be constructed, the Project in substantial accordance with the Site Plans; provided, that, Developer, may make changes, supplements, deletions,additions and/or modifications to the Site Plans from time to time so long as Developer obtains the Commission's written consent in the event of any material change supplement, deletion, addition and/or modification to the Site Plans. Upon completion of plans and specifications for the Project, Developer shall deliver a complete set thereof to the Commission. j To the extent that the Developer determines to construct covered parking on a portion of the Support Parcel to serve the LaSalle Property,the Developer shall provide plans and specifications to the Commission to obtain its written consent of such plans and specifications, which shall not be unreasonably withheld. I4.9 Costs and Expenses of Construction of Development. Developer hereby agrees to pay, or cause to be paid, all costs and expenses of construction for the Project(including legal fees,architectural and engineering fees),exclusive of the Local Public Improvements,which shall 3 be paid for by the Commission by and through the Funding Amount; provided, however, Developer may pay certain expenses related to the design of the Local Public Improvements which i expenses shall be reimbursed by the Commission, all in accordance with the Construction 1 Management Agreement(as later defined). i A 1 - 7 - 1 60s.us.52637413.08 4 1 4 1 i