City and County of Denver - File #: 22-1017

• File #: 22-1017
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 8/22/2022
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 9/12/2022
• Final action: 9/12/2022
• Title: A resolution for approving a proposed Loan Agreement between the City and County of Denver and ECLT Morrison Condos LLC to support the planned affordable housing development located at Morrison Road and South Perry Street in Council District 3. Approves a loan agreement with Elevation Community Land Trust (ECLT) Morrison Condos, LLC for $1,800,000 and with the loan conditions met on or before 6-22-2023 to support the planned affordable housing development located at Morrison Road and South Perry Street in Council District 3 (HOST-202264231). The last regularly scheduled Council meeting within the 30-day review period is on 10-3-2022. The Committee approved filing this item at its meeting on 8-31-2022.
• Indexes: Lucas Palmisano

Date	Ver.	Action By	Action	Result
9/19/2022	1	Council President	signed
9/12/2022	1	City Council	adopted	Pass
8/31/2022	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-29-2022

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name: Jennifer Balkcom
Email Address: Jennifer.Balkcom@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 for approving a proposed Loan Agreement between the City and County of Denver and ECLT Morrison Condos LLC to support the planned affordable housing development located at Morrison Road and South Perry Street in Council District 3.
Approves a loan agreement with Elevation Community Land Trust (ECLT) Morrison Condos, LLC for $1,800,000 and with the loan conditions met on or before 6-22-2023 to support the planned affordable housing development located at Morrison Road and South Perry Street in Council District 3 (HOST-202264231). The last regularly scheduled Council meeting within the 30-day review period is on 10-3-2022. The Committee approved filing this item at its meeting on 8-31-2022.
body

Affected Council District(s) or citywide? 3

Contract Control Number: HOST-202264231

Vendor/Contractor Name (including any "DBA"): Elevation Community Land Trust (ECLT) Morrison Condos, LLC

Type and Scope of services to be performed:

The Morrison Road site currently consists of 5 residential units made up of 3 units in the mixed-use building and 2 units in a residential duplex north of the mixed-use building. Until redevelopment, the rental units will be restricted to 3 units at or below 80% AMI. Once the redevelopment...