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 1275 Sherman, LLC to support the construction of affordable housing.
Approves a loan agreement with 1275 Sherman, LLC for $1,545,000 for fifty years, including a sixty-year restrictive covenant, to support the construction of Capitol Square Apartments, comprised of 103 affordable apartments located at 1295 Sherman Street in Council District 10 (HOST-202054254). 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 10
Contract Control Number: HOST-202054254
Vendor/Contractor Name (including any "DBA"): 1275 Sherman, LLC
Type and Scope of services to be performed:
This project represents a complex partnership between the State and City and County of Denver to develop affordable housing. The project was awarded competitive 4% + State Affordable Housing Tax Credits by the Colorado Housing and Finance Authority (CHFA). The project also has a loan with similar terms from the State and is located on a State Land Board-owned site. The project is generally envisioned as workforce housing m...
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