City and County of Denver - File #: 17-0428

• File #: 17-0428
• Version: 1
• Type: Bill
• Status: Passed
• File created: 4/10/2017
• In control: Finance & Governance Committee
• On agenda: 5/15/2017
• Title: A bill for an ordinance authorizing and approving (i) the use of an amount not to exceed $65,000,000 of Private Activity Bond Volume Cap Allocation for the purpose of making a mortgage credit certificate election; and (ii) the MCC Program Administration Agreement, Lender Participation Agreement and MCC Program Guidelines. Authorizes and approves (i) the use of an amount not to exceed $65 million of Private Activity Bond Volume Cap Allocation for the purpose of making a mortgage credit certificate (MCC) election; and (ii) the MCC Program Administration Agreement, Lender Participation Agreement and the MCC Program Guidelines. The Committee approved filing this bill at its meeting on 4-18-17.

Date	Ver.	Action By	Action	Result
5/17/2017	1	Mayor	signed
5/16/2017	1	Council President	signed
5/15/2017	1	City Council	placed upon final consideration and do pass	Pass
5/8/2017	1	City Council	continued
5/1/2017	1	City Council	ordered published on first reading
4/18/2017	1	Finance & Governance Committee	approved for filing	Pass

Finance Item/Grant Request Template

Date Submitted: 04-11-17

Requesting Agency: Finance
Division: Cash, Risk & Capital Funding

* Name: Michael Kerrigan, Sr. Financial Analyst, Cash Risk and Capital Funding
* Phone: 720-913-5550
* Email: Michael.Kerrigan@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 bill for an ordinance authorizing and approving (i) the use of an amount not to exceed $65,000,000 of Private Activity Bond Volume Cap Allocation for the purpose of making a mortgage credit certificate election; and (ii) the MCC Program Administration Agreement, Lender Participation Agreement and MCC Program Guidelines.
Authorizes and approves (i) the use of an amount not to exceed $65 million of Private Activity Bond Volume Cap Allocation for the purpose of making a mortgage credit certificate (MCC) election; and (ii) the MCC Program Administration Agreement, Lender Participation Agreement and the MCC Program Guidelines. The Committee approved filing this bill at its meeting on 4-18-17.
body

Affected Council District(s) or citywide? Citywide

Executive Summary with Rationale and Impact:

The purpose of this ordinance is to authorize the City to implement a 2017 MCC Program using $65,000,000 of private activity bond volume cap allocation, approve the Program Administration Agreement, approve the Lender Participation Agreement, and approve the MCC Program Guidelines. The 2017 MCC Program will benefit qualified low and moderate income first-time homebuyers or homebuyers that have not owned a home in ...