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21 <br /> <br />3.23. Labor Peace Agreement. Prior to execution of the Developer Hotel Ground <br />Lease, Developer shall enter into and comply with a Labor Peace Agreement as provided in <br />Section 5.4 of the Developer Hotel Ground Lease. <br />3.24. Prevailing Wages. If and to the extent required by applicable federal and state <br />laws, rules and regulations, Developer and its contractors and subcontractors shall pay prevailing <br />wages for all construction, alteration, demolition, installation, and repair work performed with <br />respect to the construction of the Project as required herein and described in the Scope of <br />Development attached to the DDA, in compliance with Section 1.6 of the DDA. <br />3.25. Calculation of Credits Against Development Impact Fees. Developer shall be <br />eligible for credit against the City Development Impact Fees for the Public Improvements <br />described below in paragraphs (a) through (d) of this Section 3.25. Creditable costs shall include <br />underground improvements necessary for the functionality of surface improvements, including <br />water, sewer, storm drain, electrical power, gas, telecommunications, and irrigation. Creditable <br />costs shall also include surface improvements and any other above ground improvements <br />required for the construction of the applicable public facilities, including asphalt, decomposed <br />granite, concrete, curb and gutter, subgrade engineering (gravel or base), ground cover, drip <br />irrigation, landscaping, signage, plumbing fixtures, light fixtures, vertical elements, walls, <br />fences, and gates. Site Preparation, as described in this Section 3.25, shall not be eligible for <br />Development Impact Fee Credit. <br />If Developer constructs a public facility that has been designated by this Development <br />Agreement to be eligible for a credit against City Development Impact Fees, the amount of the <br />credit shall be determined as follows. The credit amount shall mean the actual costs paid by <br />Developer to contractors, consultants and other third parties for the materials and construction of <br />the underground improvements and surface improvements for the applicable public facility, and <br />plans and permit and other fees charged by government agencies other than City. Costs of <br />improvements initially paid for by Developer but reimbursed to Developer through a Community <br />Facilities District or other funding mechanism shall not be eligible for a credit against City <br />Development Impact Fees. The credit amount shall not include any compensation for Developer <br />profit or overhead in connection with the construction of the improvement. In the event that the <br />contractor or consultant for the work of improvement is Developer or an affiliate of Developer, <br />the credit for the amount payable to the contractor or consultant shall not exceed a reasonable <br />market rate for such work. In the event that the costs of the public facility exceed the amount of <br />the applicable Development Impact Fees, the amount of the credit shall not exceed the amount of <br />the applicable Development Impact Fee, and the Developer shall not receive a credit or <br />reimbursement of any kind for the overage. The foregoing credits are intended to implement the <br />Development Impact Fee Credit requirements of Sections 1.4.3, 1.4.4, 1.4.10, and 1.4.11 of the <br />DDA and the DDA Scope of Development, and in the event of any inconsistencies between this <br />Section 3.25 and the DDA, the provisions of this Section 3.25 shall control. <br /> <br />Developer shall be eligible for credit against the City Development Impact Fees for the <br />following public facilities described below in the areas, and in such proportions, as provided on <br />the Shoreline Responsibility Map, Exhibit R to the DDA: <br />