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File #: 18-0554    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 5/8/2018 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 6/18/2018 Final action: 6/18/2018
Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Brandon VOA Family Housing LLC to build 103 income-restricted apartments at 1555 Xavier Street, including both permanent supportive housing and housing for families at 60% AMI and below. Approves a forty-year $1,560,000 loan agreement with Brandon VOA Housing LLC to build 103 apartments at 1555 Xavier Street including both permanent supportive affordable housing and housing for families at 60% of the area median income (AMI) and below in Council District 1 (OEDEV-201840084-00). The last regularly scheduled Council meeting within the 30-day review period is on 7-9-18. The Committee approved filing this item at its meeting on 5-23-18.
Attachments: 1. RR18 0554 OED VOA Brandon, 2. Brandon Courtyard SAFEHOUSE 5-18-18, 3. 18-0554_Contract_Brandon VOA family Housing LLC.201840084-00, 4. 18-0554_Filed Resolution_Brandon VOA Family Housing LLC.201840084-00, 5. 18-0554_Filed Resolution_Brandon VOA Family Housing LLC.pdf, 6. 18-0554 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 5-8-18

Requesting Agency: Economic Development

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 Brandon VOA Family Housing LLC to build 103 income-restricted apartments at 1555 Xavier Street, including both permanent supportive housing and housing for families at 60% AMI and below.
Approves a forty-year $1,560,000 loan agreement with Brandon VOA Housing LLC to build 103 apartments at 1555 Xavier Street including both permanent supportive affordable housing and housing for families at 60% of the area median income (AMI) and below in Council District 1 (OEDEV-201840084-00). The last regularly scheduled Council meeting within the 30-day review period is on 7-9-18. The Committee approved filing this item at its meeting on 5-23-18.
body

Affected Council District(s) or citywide? CD 1

Contract Control Number: OEDEV-201840084-00

Vendor/Contractor Name (including any "DBA"): Brandon VOA Housing LLC

Type and Scope of services to be performed:
Brandon Courtyard Apartments is a new 103-unit apartment development to be constructed at 1555 Xavier Street in west Denver near Colfax Avenue. Located on an important legacy site for VOA, the project will provide permanently affordable rental for a range of single families, veterans, and homeless residents.

The property will serve 59 homeless individuals, 44 families, and one managers unit. Rent subsidies include seven Section 811...

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