City and County of Denver - File #: 18-1357

• File #: 18-1357
• 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 Sheridan Station Apartments, LLC to provide construction and permanent financing on a 133-unit affordable apartment community located at 1079 Ames Street in the Villa Park neighborhood of Denver. Approves a loan agreement with Mile High Development, doing business as Sheridan Station Apartments, LLC for $1,995,000 and for forty years to support the construction of 133 units of income-restricted housing at a wide range of income levels, including residents earning below 30% AMI and up to 60% AMI, in a transit-oriented development located at 1079 Ames Street adjacent to the Sheridan light rail station in Council District 3 (OEDEV-201840082-00). 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 Sheridan Station Apartments, LLC to provide construction and permanent financing on a 133-unit affordable apartment community located at 1079 Ames Street in the Villa Park neighborhood of Denver.
Approves a loan agreement with Mile High Development, doing business as Sheridan Station Apartments, LLC for $1,995,000 and for forty years to support the construction of 133 units of income-restricted housing at a wide range of income levels, including residents earning below 30% AMI and up to 60% AMI, in a transit-oriented development located at 1079 Ames Street adjacent to the Sheridan light rail station in Council District 3 (OEDEV-201840082-00). 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 3

Contract Control Number: OEDEV-201840082-00

Vendor/Contractor Name (including any "DBA"): Mile High Development, doing business as Sheridan Station Apartments LLC

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