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The owner and/or developer of private or public construction subject to the requirements of this chapter must demonstrate compliance with the requirements of this chapter in one of the following ways upon filing a building permit application;

A. Payment of the full amount of the applicable public art in-lieu fee; and/or,

B. Presentation of a valid and binding contract to commission or purchase and install the required public art on the subject development site, and a written approval of the proposed art from the PPAC that certifies that the proposed public art satisfies the requirements of section 18.120.