City and County of Denver - File #: 17-1349

• File #: 17-1349
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 11/20/2017
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 12/11/2017
• Final action: 12/11/2017
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Moline @ Stapleton Apartments LLLP for a loan to fund affordable housing development costs. Approves a cash flow loan 40-year agreement with Moline @ Stapleton Apartments LLLP, in the amount of $2.6 million to build 180 apartments at 2820 North Moline Street including 11 Veterans Administration Supportive Housing units and 11 Section 811 vouchers to serve homeless veterans and persons with disabilities, and 158 apartments for families that earn up to 60% Area Median Income (AMI) in Council District 8 (OEDEV-201735845-00). The last regularly scheduled Council meeting within the 30-day review period is on 1-2-18. The Committee approved filing this resolution at its meeting on 11-29-17.
• Indexes: Debra Bartleson

Date	Ver.	Action By	Action	Result
12/12/2017	1	Council President	signed
12/11/2017	1	City Council	adopted	Pass
11/29/2017	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 11-21-17

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 Loan Agreement between the City and County of Denver and Moline @ Stapleton Apartments LLLP for a loan to fund affordable housing development costs.
Approves a cash flow loan 40-year agreement with Moline @ Stapleton Apartments LLLP, in the amount of $2.6 million to build 180 apartments at 2820 North Moline Street including 11 Veterans Administration Supportive Housing units and 11 Section 811 vouchers to serve homeless veterans and persons with disabilities, and 158 apartments for families that earn up to 60% Area Median Income (AMI) in Council District 8 (OEDEV-201735845-00). The last regularly scheduled Council meeting within the 30-day review period is on 1-2-18. The Committee approved filing this resolution at its meeting on 11-29-17.
body

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

Contract Control Number: OEDEV-201735845-00

Vendor/Contractor Name (including any "DBA"): Moline@Stapleton Apartments LLLP

Type and Scope of services to be performed: Provides a $2,600,000 cash flow loan to Northeast Denver Housing Center's tax credit partnership to build 180 apartments for families near the intersection of Martin Luther King Jr. Blvd. and 26th Avenue in Stapleton. The project includes 11 Veterans Aff...