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31 newspaper(s) ), as well as websites, trade association publications, trade journals, or other applicable media, not less than twenty (20) calendar days before the date bids are due; (b) holding at least two advertised open houses in the vicinity of the Project to encourage local businesses to come and learn about the Project and how they might be engaged to work on the Project; and (c) requesting assistance from San Leandro community organizations, contractors or professional groups, local state or federal business assistance offices or other organizations that provide assistance in the recruitment and placement of San Leandro businesses. Developer shall keep records of these outreach efforts and shall provide them, as well as a listing all contact information for any San Leandro business or nonprofit organization that will participate in the project, or provide services or supplies to the prime contractor, to the City upon request. (c) Developer and its contractors and subcontractors shall consider in good faith all applications submitted by local businesses in accordance with their normal practice to engage the most qualified business for each position and make a good faith effort to hire local businesses. (d) Developer retains the sole and absolute discretion to engage both professional and construction firms it deems best qualified for the tasks to be performed. (e) The requirements of this Section 1.6.3 shall continue until the issuance of the first temporary certificate of occupancy for each Element of the Project. (f) The requirements of this Section 1.6.3 are limited to the construction activities of the Project. 1.7. Performance Bonds and Payment Bonds. Prior to commencement of any construction work on the Project, Developer shall cause its general contractor for each Element of the Project to deliver to the City copies of payment bond(s) and performance bond(s) issued by a reputable insurance company licensed to do business in California, each in a penal sum of not less than one hundred percent (100%) of the scheduled cost of construction for each Element of the Project. The bonds shall name the City as obligee and shall be in a form acceptable to the City Attorney. The bonds for each Element of the Project shall remain in place and in full force until release by the City upon completion of the Element as determined by the City. The Golf Course Element shall be accepted by the City Council prior to the release of any bonds for such work. In lieu of such performance and payment bonds, subject to City Attorney’s approval of the form and substance thereof, Developer may submit evidence satisfactory to the City of contractor’s ability to commence and complete construction of the Project in the form of an irrevocable letter of credit, pledge of cash deposit, certificate of deposit, or other marketable securities held by a broker or other financial institution acceptable to the City, with signature authority of the City required for any withdrawal, or a completion guaranty in a form and from a guarantor acceptable to City. If proposed by Developer, the City shall reasonably consider the use of subguard bonds for construction of private improvements by or on behalf of the Developer or its assigns (but not public improvements to be constructed by or on behalf of the Developer or its assigns). Such evidence must be submitted to City in approvable form in sufficient time to allow for review and approval prior to the scheduled construction start date.