Retail Space-Inclusive and Affordable Sample Clauses

Retail Space-Inclusive and Affordable. Lessee will seek to incorporate a mixture of retail tenants in the Project with products and offerings in a range of price points, particularly in the food and beverage categories, with the goal of providing employees of retail tenants and occupants in the Civic Center buildings with a range of options for lunch in the Project, which will include at least some lunch options for a price of $10.00 (plus taxes) per meal (as such amount may be increased each year by the same percentage increase as the then applicable increase in the CPI Index from and after the effective date of the First Amendment to Lease). Lessee will submit to Authority a retail plan for the Project on or before the Commencement of Construction that will define the specific goals for the inclusive retail mix and set forth the efforts that Lessee will undertake to achieve the goals. The plan will specify the steps and actions that Lessee will commit to take to seek to achieve the goal of an inclusive retail mix with a range of price points so that Authority can understand and monitor the process that Lessee is undertaking. Notwithstanding the foregoing, in no event shall the selection of any specific tenants, the location of the space or terms of the lease to a specific tenant in the Project be subject to any right of approval by Authority, with all such decisions being solely in the discretion of Lessee. (a) During the initial lease-up of the Retail Improvements in the Project and continuing for the first two (2) years of operation of the Retail Improvements, Lessee shall provide Authority with quarterly reports setting forth the results of the efforts to achieve an inclusive retail mix and describing the commercially reasonable efforts undertaken by Lessee to achieve such retail mix. Authority shall have thirty (30) days after receipt of each such quarterly report to review the report and provide feedback to Lessee on whether the Lessee has been deficient in its efforts to achieve the goal of an inclusive retail mix. If Authority determines that such efforts have been deficient, it will request that Lessee provide an action plan to Authority in the next succeeding quarterly report that will detail the commercially reasonable efforts to be undertaken by Lessee to achieve an inclusive retail mix. (b) After the first two (2) years of operation of the Retail Improvements and continuing until the tenth (10th) anniversary of the official opening of the Retail Improvements for business, Lessee s...
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