Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 8-03-20
Requesting Agency: Department of Housing Stability
Division:
Subject Matter Expert Name:
Name: Nick Emenhiser
Email: Nicholas.Emenhiser@denvergov.org
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 Pancratia Hall Partners LLC for a loan to support the construction of 72 affordable housing units within Pancratia Hall Lofts in Loretto Heights.
Approves a loan agreement with Pancratia Hall Partners, LLC for $3,300,000, with a repayment term of forty years and a restrictive covenant term of sixty years, to support the restoration of Pancratia Hall Lofts, comprised of 72 affordable apartment units in Loretto Heights in Council District 2 (HOST-202054928). The last regularly scheduled Council meeting within the 30-day review period is on 9-14-20. The Committee approved filing this item at its meeting on 8-12-20.
body
Affected Council District(s) or citywide? Council District 2
Contract Control Number: HOST-202054928
Vendor/Contractor Name (including any "DBA"): Pancratia Hall Partners, LLC
Type and Scope of services to be performed:
This adaptive reuse of Pancratia Hall will restore a local historic landmark and provide affordable housing for 72 households for the next 60 years, serving an area of Denver that has not seen much new affordable housing. This project has an emphasis on deeper affordability and larger unit sizes, as well as accessibl...
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