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Regular City Council Meeting Monday, June 08, 2009 Page 11 Councilmember Pust clarified that those residents of Westwood Village I were paying for the services as opposed to other Roseville residents. Councilmember Ihlan reiterated her opinion that the City needed to ensure the lowest possible bidder and bargaining power of the City for this massive project to save costs fro the Association; and risks to those unit owners who may default in the future in a worst case scenario. Councilmember Ihlan further addressed the City's policy of issuing bonds, and potential precedent-setting for other associa- tions seeking similar financial assistance. Councilmember Pust, speaking on behalf of the HRA, advised that the HRA shared some of those same policy concerns addressed by Councilmember Ihlan, and would like further discussion to follow related to overall policies. Council- member Pust noted that, in working through this first HIA project, a number of is- sues had been fleshed out, and further discussion, based on this experience and learning curve, was on the HRA's agenda to bring a recommendation forward to the City Council to facilitate Council policy discussions. Councilmember Pust further noted that, the HRA had delayed those discussions based on the projected expiration of the HIA at the end of this fiscal year; however, noted that the legis- lature had extended HIA's for an additional four years, facilitating further consid= eration and discussion as a potential issue. Councilmember Johnson again sought an audience response of those willing to support this Development Agreement and potential risk to the Association; with audience members overwhelmingly expressing their support. Acting Mayor Roe noted previous comments of staff related to the availability of a contingency fund to provide protection for the Association and the City's flexi- bility in working with them should that eventuality occur. Acting Mayor Roe spoke in support of the motion; and expressed, after careful and diligent review of terms in the Agreement, his favorable interpretation of the protections for the City as addressed; noting those difficult lessons learned in the past and the need for those better protections. Roll Call Ayes: Johnson; Pust; and Roe.. Nays: Ihlan. Motion carried. [Disbursement Agreement, Attachment C] Pust moved, Johnson seconded, authorizing the City of Roseville to enter into a Disbursement Agreement with Commercial Partners Title, LLC and Westwood Village Association, as detailed in Attachment C to the Request for Council Ac- tion dated June 8, 2009.