Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 11-28-2022
Requesting Agency: Department of Housing Stability
Division:
Subject Matter Expert Name: Adam Lyons
Email Address: adam.lyons@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 Northfield Flats, LLC to provide funding for the development and construction of a 129-unit affordable housing development, located at 4545 Xenia Street in Council District 8.
Approves a loan agreement with Northfield Flats, LLC for $4,515,000 and 18 years to provide funding for a new affordable housing development, located at 4545 Xenia Street in Council District 8 (HOST-202264595). The last regularly scheduled Council meeting within the 30-day review period is on 1-3-2023. The Committee approved filing this item at its meeting on 11-30-2022.
body
Affected Council District(s) or citywide? 8
Contract Control Number: HOST-202264595
Vendor/Contractor Name (including any "DBA"):
Northfield Flats, LLC
Type and Scope of services to be performed:
Northfield Flats will consist of a four story, 129 affordable unit project in a wood-framed, surface parked building consisting of 42 one-bedroom units, 83 two-bedroom units and 4 three-bedroom units. A city covenant is to be recorded on the land for 60 years. All affordable units will be rented to households earning at or below 80% of the area median income (AMI).
The building skin will consist of brick,...
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