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k'14L& <br />REQUEST FOR COUNCIL ACTION <br />22 The agreement will contain language that will require Sienna Green 11 to provide <br />23 certification of actual costs to determine the actual gap in funding for the project. If the <br />24 actual gap is less than the $,935,005 amount,, the amount of tax increment given to Sienna <br />25 Green I.I. will be reduced accordingly. If the gap is determined to be larger, no additional <br />26 tax increment will be given. <br />27 POLICY OBJECTIVE <br />28 By approving a TIF Development Agreement, the City will assist an affordable housing project <br />29 being developed that otherwise could not be built. <br />zm� <br />