55A - RESO - HOTEL INCENTIVE PROG

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f. Hotel Visitor's Tax (HVT) Rate — The current rate of HVT, as applicable from time to time. The HVT Rate shall apply for the calculation of any and all Incentive Payments. g. Incentive Payments — the payments made by the City to an Owner pursuant to an Operating Covenant Agreement and described in Section 4 hereof. h. Labor Peace Agreement — an enforceable agreement between a Hotel Owner or Operator and a labor organization, as defined by 29 U.S.C. §152(5), that represents, or seeks to represent, the Hotel's employees, both during construction and operation of the Hotel, and that contains provisions under which the labor organization for itself and its members agrees to refrain from engaging in any picketing, work stoppages, or any other economic interference with Hotel operations. I, Open(s)(ing)(ed) for Business or Opening — the day on which a Hotel opens for business to the general public. j. Operating Covenant Agreement(s) -- the agreement(s) approved by the City Council described in Section 3 hereof. k. Operating Period — This will be negotiated in the Operating Covenant Agreement. Operator — franchisee, manager, lessee, or licensee with whom an Owner has a contract to operate the Hotel pursuant to a franchise, management, lease, or license arrangement. M. Owner — the person or entity that is the owner of a Hotel or a site upon which a Hotel is to be constructed, whether in the capacity of fee simple owner, lessee, sub - lessee, mortgagee in possession, licensee, franchisee, or any other capacity, or the assignee or designee of such Owner. n. Prevailing Wage Statutes — Labor Code Section 1770, et seq. o. Site Control — being the Owner of a site on which a Hotel is proposed. P. Temporary Closure — a period of time, no longer than reasonably necessary for repairs, reconstruction or resolution of maintenance issues, but in no event longer than two hundred (200) days. Resolution No, 2016 - 55A-55