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Conservation and Development Commission (BCDC) to evaluate and report on the <br />preliminary plans. The Preliminary Plans shall include a description of the colors and <br />materials to be used and a summary of the areas of each use area within the hotel <br />building. This summary shall include both the area of each use area in square feet <br />and, if appropriate, the capacity of proposed meeting space and other places of public <br />assembly. <br />4. APPROVALS <br />All necessary regulatory approvals, including BCDC approval, shall be secured. <br />a. BCDC approval shall consist of any of the following: <br />i. A permit approved by BCDC; <br />ii. A letter from the Executive Director of BCDC committing <br />the BCDC staff to support of the project as designed. <br />b. Other regulatory permits. If the project requires approvals or <br />permits from other agencies, Developer shall submit either a <br />permit or a valid staff commitment to support approval of a <br />permit from each agency. <br />5. PRO FORMAS <br />Financial pro formas for both the initial development and continuing operation at <br />expected occupancy levels shall be prepared and submitted to the City. <br />6. MANAGEMENT PLAN <br />Evidence of a commitment to manage the Project, together with adequate supporting <br />information to permit thorough evaluation by City of the competence and experience <br />of the proposed management entity shall be prepared and submitted to the City. The <br />form of management commitment, whether it be by management agreement, sublease <br />or some other vehicle, shall be submitted as part of this evidence. Such evidence shall <br />be unconditional, provided, however, that said commitment shall be conditional upon <br />the approval of the lease by City. <br />Marina Hotel Lease Exhibit B <br />2 <br />