City and County of Denver - File #: 23-0975

• File #: 23-0975
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 7/16/2023
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 8/14/2023
• Final action: 8/14/2023
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Twenty Two Denver 8805, LLC to support the acquisition and preservation of income restricted housing at the Villas at Gage Point, located at 8805 East 12th Avenue, in Council District 8. Approves a loan agreement with Twenty-Two Denver 8805, LLC for $2,050,000 and for a 30-year loan term with a 60-year affordability restriction to support the acquisition and preservation of 82-units of income restricted housing at the Villas at Gage Point, located at 8805 East 12th Avenue, in Council District 8 (HOST-202368441). The last regularly scheduled Council meeting within the 30-day review period is on 8-28-2023. The Committee approved filing this item at its meeting on 7-26-2023.
• Indexes: Anne Wallace

Date	Ver.	Action By	Action	Result
8/14/2023	1	Council President	signed
8/14/2023	1	City Council	adopted	Pass
7/26/2023	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 7-24-2023

Requesting Agency: Housing and Stability
Division:

Subject Matter Expert Name: Jennifer Siegel
Email Address: Jennifer.siegel@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 Twenty Two Denver 8805, LLC to support the acquisition and preservation of income restricted housing at the Villas at Gage Point, located at 8805 East 12th Avenue, in Council District 8.
Approves a loan agreement with Twenty-Two Denver 8805, LLC for $2,050,000 and for a 30-year loan term with a 60-year affordability restriction to support the acquisition and preservation of 82-units of income restricted housing at the Villas at Gage Point, located at 8805 East 12th Avenue, in Council District 8 (HOST-202368441). The last regularly scheduled Council meeting within the 30-day review period is on 8-28-2023. The Committee approved filing this item at its meeting on 7-26-2023.
body

Affected Council District(s) or citywide?
Council District 8

Contract Control Number:
HOST-202368441

Vendor/Contractor Name (including any "DBA"):
Twenty-Two Denver 8805, LLC

Type and Scope of services to be performed:
Twenty-Two Denver 8805, LLC, a partnership between Ms. Margarita Hart and Colorado Housing Accelerator Initiative (CHAI) Debt Capital, acquired 8805 E 12th Ave., known as Villas at Gage Point, an 82-unit naturally occurring affordable rental property in the ...