City and County of Denver - File #: 19-0132

• File #: 19-0132
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 2/12/2019
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 4/15/2019
• Final action: 4/15/2019
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Colburn LLC for renovation and development of an affordable housing project located at 980 Grant Street, Denver, Colorado. Approves a loan agreement with Colburn LLC for $3,450,000 and for sixty-nine years to support the acquisition and rehabilitation of an existing income-restricted property known as the Colburn Hotel to preserve 91 units of housing for low-income residents, located at 980 Grant Street in Council District 10 (OEDEV-201842018-00). The last regularly scheduled Council meeting within the 30-day review period is on 5-6-19. The Committee approved filing this item at its meeting on 3-27-19.
• Indexes: Emily Lapel

Date	Ver.	Action By	Action	Result
4/15/2019	1	City Council	adopted	Pass
4/15/2019	1	Council President	signed
3/27/2019	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 2-12-19

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 Colburn LLC for renovation and development of an affordable housing project located at 980 Grant Street, Denver, Colorado.
Approves a loan agreement with Colburn LLC for $3,450,000 and for sixty-nine years to support the acquisition and rehabilitation of an existing income-restricted property known as the Colburn Hotel to preserve 91 units of housing for low-income residents, located at 980 Grant Street in Council District 10 (OEDEV-201842018-00). The last regularly scheduled Council meeting within the 30-day review period is on 5-6-19. The Committee approved filing this item at its meeting on 3-27-19.
body

Affected Council District(s) or citywide? CD 10

Contract Control Number: OEDEV-201842018-00

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

Type and Scope of services to be performed:
This proposed resolution will authorize a $3,450,000 cash flow loan to Colburn, LLC to support the acquisition and rehabilitation of an existing income-restricted property known as the Colburn Hotel. The developer, G...