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Regular City Council Meeting Monday, June OS, 2009 Page 17 eral regulations, including HUD requirements; allowing the City to address any non-compliance by AEON for its tenants. Councilmember Ihlan noted that City's experience with Centennial Commons and applicable standards and responsibilities; and asked that the City Council ensure that those provisions were stipulated and documented in the PUD Agreement. Councilmember Pust opined that she was supportive of making a motion based on discussion and assurances based on the record of tonight's meeting. Community Development Director Patrick Trudgeon noted that, at a future meet- ing, aTax Increment Financing (TIF) Agreement would be coming forward to the City Council; and suggested that it be more appropriate to address specific expec- tations in that document, rather than in this Development Agreement. Councilmember Ihlan noted that the 60 day review deadline was not until June 30, 2009; and opined that the City needed to be consistent with all documents; and that there was no reason to craft language from the dais at tonight's meeting, when action could be delayed for further language refinement. Acting Mayor Roe asked Mr. Rocker if there were other calendar or schedule re- quirements for AEON that may be impacted by delay of tonight's requested ac- tion. Mr. Rocker responded affirmatively, that delay of tonight's requested action may negatively impact their application to the State for final tax credits and possible stimulus monies; based on application requirements for the project's status with Building Permit review; and their need to move the project forward as soon as possible. Mr. Rocker opined that he would prefer to see tonight's action specific to land use decisions; and the other issues addressed as part of their upcoming re- quest for TIF. Councilmember Ihlan questioned the City's recourse should AEON not return seeking TIF funding, if other funding sources should be found. Councilmember Pust opined that there were no additional funding sources avail- able; that TIF was required for Phase II of the project and an integral part of the entire funding package. Councilmember Pust advised that, should AEON lose out on housing finance monies during this funding round, they could lose out com- pletely. Councilmember Pust suggested that the City Council proceed on to- night's requested actions, based on the testimony received from the applicant to- night, be incorporated and part of the Development Agreement. Councilmember Ihlan spoke in support of such a condition of approval, allowing for future wordsmithing by staff of the document.