City and County of Denver - File #: 23-0291

• File #: 23-0291
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 3/12/2023
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 4/10/2023
• Final action: 4/10/2023
• Title: A resolution approving a proposed First Amendment and Modification Agreement between the City and County of Denver and Northfield Flats, LLC to extend the maturity date of a loan for funding for an affordable housing development, located at 4545 Xenia Street in Council District 8. Amends a loan agreement with Northfield Flats, LLC to add 2 years to the loan maturity date for a new term of 20 years to align with senior lender requirements for funding at an affordable housing development, located at 4545 Xenia Street in Council District 8. No change to loan amount (HOST-202264595-01). The last regularly scheduled Council meeting within the 30-day review period is on 5-1-2023. The Committee approved filing this item at its meeting on 3-22-2023.
• Indexes: Anne Wallace

Date	Ver.	Action By	Action	Result
4/10/2023	1	Council President	signed
4/10/2023	1	City Council	adopted	Pass
3/22/2023	1	Safety, Housing, Education & Homelessness Committee	approved by consent	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 3/12/23

Requesting Agency: HOST
Division:

Subject Matter Expert Name: Jack Wylie
Email Address: jack.wylie@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 First Amendment and Modification Agreement between the City and County of Denver and Northfield Flats, LLC to extend the maturity date of a loan for funding for an affordable housing development, located at 4545 Xenia Street in Council District 8.
Amends a loan agreement with Northfield Flats, LLC to add 2 years to the loan maturity date for a new term of 20 years to align with senior lender requirements for funding at an affordable housing development, located at 4545 Xenia Street in Council District 8. No change to loan amount (HOST-202264595-01). The last regularly scheduled Council meeting within the 30-day review period is on 5-1-2023. The Committee approved filing this item at its meeting on 3-22-2023.
body

Affected Council District(s) or citywide? District 8

Contract Control Number: HOST-202264595-01

Vendor/Contractor Name (including any "DBA"): Northfield Flats, LLC

Type and Scope of services to be performed:
The purpose of this resolution is to request a change to the maturity date of the HOST loan to Northfield Flats. On June 2, 2022, the Loan Review Committee (LRC) approved a loan to Northfield Flats, LLC, with an 18-year maturity and City Council approved the loan agreement on Dec. 13, 2022. The term was initially se...