City and County of Denver - File #: 18-1340

• File #: 18-1340
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 11/12/2018
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 12/10/2018
• Final action: 12/10/2018
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and 101 Apartment Developers, LLC to support the construction of 102 units of income-restricted housing through a redevelopment of the historic 101 South Broadway building located at 21 W. 1st Avenue in the Baker neighborhood. Approves a loan agreement with Broadway Developers LLC for $2,300,000 and for thirty years to support the construction of 102 units of income-restricted housing for residents earning 60% of area median income located at 21 West 1st Avenue in Council District 7, and includes as collateral the creation of 80 future affordable units in the Sloans Lake neighborhood for residents earning 80% AMI for thirty years (OEDEV-201738188-00). The last regularly scheduled Council meeting within the 30-day review period is on 1-2-19. The Committee approved filing this item at its meeting on 11-21-18.
• Indexes: Emily Lapel

Date	Ver.	Action By	Action	Result
12/11/2018	1	Council President	signed
12/10/2018	1	City Council	adopted	Pass
11/21/2018	1	Safety, Housing, Education & Homelessness Committee	approved by consent

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 11-13-18

Requesting Agency: Office of Economic Development
Division:

Subject Matter Expert Name:

Name: Susan Liehe 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 101 Apartment Developers, LLC to support the construction of 102 units of income-restricted housing through a redevelopment of the historic 101 South Broadway building located at 21 W. 1st Avenue in the Baker neighborhood.
Approves a loan agreement with Broadway Developers LLC for $2,300,000 and for thirty years to support the construction of 102 units of income-restricted housing for residents earning 60% of area median income located at 21 West 1st Avenue in Council District 7, and includes as collateral the creation of 80 future affordable units in the Sloans Lake neighborhood for residents earning 80% AMI for thirty years (OEDEV-201738188-00). The last regularly scheduled Council meeting within the 30-day review period is on 1-2-19. The Committee approved filing this item at its meeting on 11-21-18.
body

Affected Council District(s) or citywide? CD 7

Contract Control Number: OEDEV-201738188-00

Vendor/Contractor Name (including any "DBA"): Broadway Developers LLC

Type and Scope of services to be performed:
...