City and County of Denver - File #: 17-0886

• File #: 17-0886
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 8/1/2017
• In control: Business, Arts, Workforce, & Aeronautical Services Committee
• On agenda: 8/21/2017
• Final action: 8/21/2017
• Title: A resolution approving a proposed Fifth Amendment and Modification Agreement between the City and County of Denver and NEWSED Community Development Corporation, Inc. to substitute collateral as security for a loan. Amends a contract with NEWSED Community Development Corporation to release the City's lien on 1029 Santa Fe Drive, allowing NEWSED to sell the property and to establish a replacement lien on NEWSED-owned real property at 901 West 10th Avenue in Council District 3 (GE-2Y004). The last regularly scheduled Council meeting within the 30-day review period is on 9-11-17. The Committee approved filing this resolution at its meeting on 8-9-17.
• Indexes: Debra Bartleson

Date	Ver.	Action By	Action	Result
8/22/2017	1	Council President	signed
8/21/2017	1	City Council	adopted	Pass
8/9/2017	1	Business, Arts, Workforce, & Aeronautical Services Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 08-01-17

Requesting Agency: Office of Economic Development
Division:

* Name: Susan Liehe
* Phone: (720) 913-1689
* Email: susan.liehe@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 Fifth Amendment and Modification Agreement between the City and County of Denver and NEWSED Community Development Corporation, Inc. to substitute collateral as security for a loan.
Amends a contract with NEWSED Community Development Corporation to release the City's lien on 1029 Santa Fe Drive, allowing NEWSED to sell the property and to establish a replacement lien on NEWSED-owned real property at 901 West 10th Avenue in Council District 3 (GE-2Y004). The last regularly scheduled Council meeting within the 30-day review period is on 9-11-17. The Committee approved filing this resolution at its meeting on 8-9-17.
body

Affected Council District(s) or citywide? Council District 3

Contract Control Number: GE-2Y004

Vendor/Contractor Name (including any "DBA"): NEWSED Community Development Corporation

Type and Scope of services to be performed: This resolution will allow NEWSED Community Development Corporation to sell its property at 1029 Santa Fe Drive. The sale will allow NEWSED to pay off a variety of expenses and debt tied to this property. In addition, this request allows NEWSED to transfer an existing OED lien from the 1029 Santa Fe Drive property to another NEWSED-owned property at 901 West 10th Avenue known ...