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File #: 18-0654    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 6/4/2018 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 6/25/2018 Final action: 6/25/2018
Title: A resolution approving a proposed Amendment and Modification Agreement between the City and County of Denver and Sable Ridge Apartments, LLC to modify the terms and conditions of the Loan Agreement. Amends an existing $3.5 million cash flow loan to Sable Ridge Apartments, LLC to define the percentage of available surplus cash required to be provided to the City as repayment of the loan in connection with the construction of a 60-unit affordable housing development for seniors known as Sable Ridge Apartments located at 4210 North Fraser Way in Council District 11 (OEDEV-201629086-01). The last regularly scheduled Council meeting within the 30-day review period is on 7-16-18. The Committee approved filing this item at its meeting on 6-13-18.
Indexes: Shelley Smith
Attachments: 1. RR18 0654 OED Sable Ridge II 052518, 2. 18-0654 Signed Contract_Sable Ridge.2018, 3. 18-0654 Filed Resolution_Sable Ridge Apts.201629086-01, 4. 18-0654 Filed Resolution_Sable Ridge Apts.201629086-01.pdf, 5. 18-0654 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 6 4 18

Requesting Agency: OED
Division:

Subject Matter Expert Name: Susan Liehe
Email Address:
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 Amendment and Modification Agreement between the City and County of Denver and Sable Ridge Apartments, LLC to modify the terms and conditions of the Loan Agreement.
Amends an existing $3.5 million cash flow loan to Sable Ridge Apartments, LLC to define the percentage of available surplus cash required to be provided to the City as repayment of the loan in connection with the construction of a 60-unit affordable housing development for seniors known as Sable Ridge Apartments located at 4210 North Fraser Way in Council District 11 (OEDEV-201629086-01). The last regularly scheduled Council meeting within the 30-day review period is on 7-16-18. The Committee approved filing this item at its meeting on 6-13-18.
body

Affected Council District(s) or citywide?
11
Contract Control Number:
OEDEV-201629086-01
Vendor/Contractor Name (including any "DBA"):
Sable Ridge Apartments LLC
Type and Scope of services to be performed:
LLC to define the percentage of available surplus cash required to be provided to the City as repayment of the loan in connection with the construction of a 60-unit affordable housing development for seniors known as Sable Ridge Apartments located at 4210 North Fraser Way
Location (if applicable):
4210 North Fraser Way
WBE/MBE/DBE goals that were...

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