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File #: 18-0556    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 Atlantis Community Foundation for construction of a project containing 60 income restricted apartments. Approves a loan agreement with Atlantis Community Foundation for $800,000 and for forty years to build 60 affordable apartments at 201 South Cherokee Street for households at 60% AMI and below including 15 homes for residents with disabilities in Council District 7 (OEDEV-201839985-00). 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 6-6-18.
Attachments: 1. RR18 0556 OED Atlantis, 2. Atlantis 060618, 3. 18-0556_Contract_Atlantis Community Foundation.201839985-00, 4. 18-0556_Filed Resolution_Atlantis Community Foundation.201839985-00, 5. 18-0556_Filed Resolution_Atlantis Community Foundation.pdf, 6. 18-0556 - 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 Atlantis Community Foundation for construction of a project containing 60 income restricted apartments.
Approves a loan agreement with Atlantis Community Foundation for $800,000 and for forty years to build 60 affordable apartments at 201 South Cherokee Street for households at 60% AMI and below including 15 homes for residents with disabilities in Council District 7 (OEDEV-201839985-00). 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 6-6-18.
body

Affected Council District(s) or citywide? CD 7

Contract Control Number: OEDEV-201839985-00

Vendor/Contractor Name (including any "DBA"): Atlantis Community Foundation

Type and Scope of services to be performed:
Atlantis Apartments will be a 60-unit affordable apartment community with 15 homes targeted toward residents with disabilities, including several apartments that are accessible to visually or hearing-impaired residents. In addition, all of the apartments will be constructed so that they are readily convertible to provide enhanced accessibility features.

The property is located at 201 S Cherokee Street in the Baker neighborhood of Denver. This is a Transit-Oriented Development, located two blocks north of the Alameda l...

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