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Regular City Council Meeting Monday, June 16, 2008 Page 17 • Ms. Radel introduced Mr. Scott Martin Executi ve Director of the TCCCF, who facilitated discussion with Councilmembers and pro- vided more detail on membership criteria; provision of only gap or secondary financing; origination of the TCCCF as a subsidiary of the Northland Foundation in Duluth in 1996 with a mission to provide unique and collaborative models for economic development financing, based on the model of the Minnesota Community Capital Fund that serves 80 counties outside the seven county metropolitan area, thus the need for serving the metro area with the TCCCF. Further discussion included membership level based on capital in- vestment, which is reimbursable after three years; enrollment costs; partnerships with banks; make-up of current members; deposit of funds in individual member escrow accounts managed by Wells Fargo; loan examples to-date, with only one out of 1201oans default- ing; and no-risk benefits to members with the TCCCF's sale of all mortgages issued. • Mr. Martin provided a bench handout of the current Board of Direc- tors of the TCCCF for Councilmembers to solicit further input and provide for additional research as it considered membership in this fund. c. Consider Request by Ficek Investment Company, LLC, owner of 621 Larpenteur Avenue, for a Rezoning and Variance to Roseville City Code, Section 1005.01 (Parking Setbacks) to Allow the Rede- velopment of the Property as an Assisted Living Facility with a Parking Area Encroachment into the Required Setback from a Right-of--Way (PF08-017) Associate Planner Bryan Lloyd reviewed the request of Mr. Ficek to rezone the property for development of an assisted living facility, at 621 Larpenteur Avenue. Discussion included review of Planning Commission discussion and action; proposed site plan and building setbacks required on the par- cel; building configuration and possible alternatives; and other uses not requiring rezoning, yet more intensive and detrimental to the • neighborhood and traffic concerns.