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File #: 24-1480    Version: 1
Type: Resolution Status: Adopted
File created: 10/21/2024 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 11/18/2024 Final action: 11/18/2024
Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Mercy Housing Mountain Plains to finance construction of 190 income-restricted units to be leased at rents affordable to qualifying households in Council District 3. Approves the loan agreement with Mercy Housing Mountain Plains in the amount of $8,550,000 to finance construction of 190 income-restricted units to be leased at rents affordable to qualifying households, in Council District 3 (HOST-202476529). The last regularly scheduled Council meeting within the 30-day review period is on 12-9-2024. The Committee approved filing this item at its meeting on 10-30-2024.
Indexes: Anne Wallace
Attachments: 1. RR24-1480_HOST-Navajo Loan Agreement -Draft_REVISED, 2. 24-1480 Filed Resolution_Mercy Housing Mountain Plains_202476529, 3. 24-1480_Agmt_Mercy_Housing_Mountain_Plains_2024_$8550000_Loan_Agrmnt_General_Funds_&_Linkage_Fee_901_Navajo_St, 4. 24-1480 Filed Resolution_Mercy Housing Mountain Plains_202476529, 5. 24-1480_signed.pdf

Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

 

Date Submitted: 10-28-2024

 

Requesting Agency: HOST

                               Division:

 

Subject Matter Expert Name: Chris Lowell
Email Address: Christopher.lowell@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 Loan Agreement between the City and County of Denver and Mercy Housing Mountain Plains to finance construction of 190 income-restricted units to be leased at rents affordable to qualifying households in Council District 3.

Approves the loan agreement with Mercy Housing Mountain Plains in the amount of $8,550,000 to finance construction of 190 income-restricted units to be leased at rents affordable to qualifying households, in Council District 3 (HOST-202476529). The last regularly scheduled Council meeting within the 30-day review period is on 12-9-2024. The Committee approved filing this item at its meeting on 10-30-2024.

body

 

Affected Council District(s) or citywide?

3

Executive Summary with Rationale and Impact:

Detailed description of the item and why we are doing it. This can be a separate attachment.

 

Address/Location (if applicable):

 

Legal Description (if applicable):

 

Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):

 

Draft Bill Attached?