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Title:
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A bill for an ordinance approving a proposed Assumption and Modification Agreement between the City and County of Denver and 2201 Arapahoe, LLC, to modify the terms of the agreement. (BUSINESS WORKFORCE AND SUSTAINABILITY) Amends a loan agreement with 2201 Arapahoe, LLC as follows: 1) Extend maturity date from 10 to 20 years to match Small Business Administration financing requirement amortized; 2) Increase monthly principal and interest payments; 3) Change borrower’s name from 2201 Arapahoe, LLC to 3403 Brighton, LLC; 4) Add 2201 Arapahoe, LLC as a corporate guarantor and 5) Redefine collateralized property (OED201312579-01). The last regularly scheduled Council meeting within the 30-day review period is on 7-14-14. The Committee approved filing this at its meeting on 6-11-14.
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