City and County of Denver - File #: 18-0125

• File #: 18-0125
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 1/30/2018
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 2/26/2018
• Final action: 2/26/2018
• Title: A resolution approving a proposed Loan Agreement a between the City and County of Denver and Colorado Community Land Trust-Denver LLC for development of an affordable housing project consisting of for-sale townhomes. Approves a 13-month loan agreement with Colorado Community Land Trust-Denver in the amount of $560,000 to finance the construction of 14 units of permanently affordable for-sale townhomes located at 6828-6880 East Archer Place in Council District 5 (201736366-00). The last regularly scheduled Council meeting within the 30-day review period is on 3-19-18. The Committee approved filing this resolution at its meeting on 2-14-18.
• Indexes: Debra Bartleson

Date	Ver.	Action By	Action	Result
2/27/2018	1	Council President	signed
2/26/2018	1	City Council	adopted	Pass
2/14/2018	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 01-30-18

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 a between the City and County of Denver and Colorado Community Land Trust-Denver LLC for development of an affordable housing project consisting of for-sale townhomes.
Approves a 13-month loan agreement with Colorado Community Land Trust-Denver in the amount of $560,000 to finance the construction of 14 units of permanently affordable for-sale townhomes located at 6828-6880 East Archer Place in Council District 5 (201736366-00). The last regularly scheduled Council meeting within the 30-day review period is on 3-19-18. The Committee approved filing this resolution at its meeting on 2-14-18.
body

Affected Council District(s) or citywide? Council District 5

Contract Control Number: 201736366-00

Vendor/Contractor Name (including any "DBA"): Colorado Community Land Trust

Type and Scope of services to be performed:
Provides a $560,000 performance loan to Colorado Community Land Trust to finance the construction of 14 units of permanently affordable for-sale townhomes in the Lowry neighborhood of Denver. The development will include six two-bedroom units and eight three-bedroom units. In addition to City funds, the borrower will leverage private debt, a grant from the Colorado Division of Housing, a g...