City and County of Denver - File #: 22-1319

• File #: 22-1319
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 10/10/2022
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 10/31/2022
• Final action: 10/31/2022
• Title: A resolution approving a proposed Amended and Restated Loan Agreement between the City and County of Denver and ECLT Morrison Condos, LLC to change the funding source of the loan. Amends the loan agreement with ECLT Morrison Condos, LLC to change the funding source of the loan within the Department of Housing Stability to ensure the loan agreement and associated affordable housing development remains on schedule. No change to agreement amount, duration or other terms (HOST-202264231/ HOST-202264231-01). The last regularly scheduled Council meeting within the 30-day review period is on 11-21-2022. The Committee approved filing this item at its meeting on 10-19-2022.
• Indexes: Lucas Palmisano

Date	Ver.	Action By	Action	Result
10/31/2022	1	Council President	signed
10/31/2022	1	City Council

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 10-17-2022

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 approving a proposed Amended and Restated Loan Agreement between the City and County of Denver and ECLT Morrison Condos, LLC to change the funding source of the loan.
Amends the loan agreement with ECLT Morrison Condos, LLC to change the funding source of the loan within the Department of Housing Stability to ensure the loan agreement and associated affordable housing development remains on schedule. No change to agreement amount, duration or other terms (HOST-202264231/ HOST-202264231-01). The last regularly scheduled Council meeting within the 30-day review period is on 11-21-2022. The Committee approved filing this item at its meeting on 10-19-2022.
body

Affected Council District(s) or citywide? 3

Contract Control Number: HOST-202264231/ HOST-202264231-01

Vendor/Contractor Name (including any "DBA"): ECLT Morrison Condos LLC

Type and Scope of services to be performed:

This amendment request is to change the source of funding. The original funding source for the loan agreement was the Community Development Block Grant (CDBG). HOST was not able to close on the loan agreement as planned due to last minute concerns from the Department of Housing and Urban Development (HUD). HUD is requiring further testing of ...