City and County of Denver - File #: 23-0228

• File #: 23-0228
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 2/27/2023
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 3/20/2023
• Final action: 3/20/2023
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Shanahan Development, LLC for an affordable housing development to be located at 1530 West 13th Avenue in Council District 3. Approves a loan agreement with Shanahan Development, LLC for $5,557,500 in American Rescue Plan Act funds and 20 years for an affordable housing development with at least 190 units, located at 1530 West 13th Avenue in Council District 3 (HOST-202366913). The last regularly scheduled Council meeting within the 30-day review period is on 4-10-2023. The Committee approved filing this item at its meeting on 3-8-2023.
• Indexes: Anne Wallace

Date	Ver.	Action By	Action	Result
3/20/2023	1	Council President	signed
3/20/2023	1	City Council	adopted	Pass
3/8/2023	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 3-6-2023

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name: Justin Hill
Email Address: Justin.Hill@denvergov.org
Phone Number:

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A resolution approving a proposed Loan Agreement between the City and County of Denver and Shanahan Development, LLC for an affordable housing development to be located at 1530 West 13th Avenue in Council District 3.
Approves a loan agreement with Shanahan Development, LLC for $5,557,500 in American Rescue Plan Act funds and 20 years for an affordable housing development with at least 190 units, located at 1530 West 13th Avenue in Council District 3 (HOST-202366913). The last regularly scheduled Council meeting within the 30-day review period is on 4-10-2023. The Committee approved filing this item at its meeting on 3-8-2023.
body

Affected Council District(s) or citywide? 3

Contract Control Number: HOST-202366913

Vendor/Contractor Name (including any "DBA"): Shanahan Development, LLC

Type and Scope of services to be performed:
This loan agreement provides Shanahan Development, LLC, with $5,557,500 to acquire a parcel of land at 1530 W. 13th Ave. in the La Alma-Lincoln Park neighborhood for a 6-story residential affordable housing development with a 60-year affordability covenant The proposed residential development will include at least 190 units serving households with annual median incomes of between 30-80%, and 25% of the units a...