In the event that construction is suspended, a plan for site preservation shall be prepared at the earliest feasible time, as agreed to by the council, and the council shall be advised of interim concerns and the measures being taken to remedy those concerns. The site preservation plan shall address environmental, and public health and safety concerns, the scope of proposed monitoring and the provisions for funding or bonding to meet site preservation costs. It shall describe measures that will be taken to preserve the site or otherwise protect all segments of the public and environment against risks or danger resulting from the site. The preservation plan shall also address options for preservation and the costs and benefits associated with those options. The council will act on the plan at the earliest feasible time and may take or require action as necessary to deal with the extraordinary circumstances.