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Regular City Council Meeting Monday, July 26, 2010 Page 8 ties, with many communities partaking of such programs. Member Elkins noted extensive discussion and interest of the HRA in pursuing such a concept by ap- proaching Roseville businesses to determine their interest in assisting employees purchase a home in Roseville. Member Elkins suggested that it would put "WOW" into the whole factor if the City of Roseville considered taking the initia- tive with its own employees, providing leverage to the HRA with other Roseville employers, while using existing loan funds currently under-utilized, by offering a grant and/or loan program for potential home buyers in Roseville who work for the City. Member Elkins advised that, through her work with Bremer Bank and her assistance to the City of St. Louis Park in establishing and administering their program, she had a template available and was willing to provide that to Roseville for their use. Member Elkins provided several examples, and suggested a $5,000 grant given to employees, forgiven after five years living in their home; or a smaller grant or loan, with matching funds from larger employers for other em- ployees in Roseville; and a note signed with and collectable from employees in case they left employment prior to the five years; or variables for providing down payment assistance for closing costs. Member Elkins sought interest of the City Council before the HRA approached other employers in the community. Councilmember Pust opined that it was very creative. Mayor Klausing opined that it was very interesting, but that the "devil's in the de- tails." Mayor Klausing noted that if existing assets were used it would be more desirable, as well as the ability to recoup funds for employees leaving before the stated time. Mayor Klausing suggested involvement by the School District as well. Member Elkins noted that involvement by the School District would broaden the scope and provide additional leverage, allowing the City and School District to talk the talk and walk the walk. Councilmember Roe noted similar programs at the Applewood Development for first right to purchase by Roseville employees and teachers; and opined that it was a great idea and an opportunity to explore. Councilmember Roe noted that those new Roseville homeowners would naturally develop interest in home improve- ment throughout the City; and expressed further interest in getting local business- es involved. Chair Maschka noted that the program could be linked with living close to work, further reducing expenses. Councilmember Johnson opined that it was a really intriguing idea; and expressed his approval of the City putting an investment back into the community.