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File #: 19-0585    Version: 1
Type: Resolution Status: Adopted
File created: 6/10/2019 In control: Finance & Governance Committee
On agenda: 7/8/2019 Final action: 7/8/2019
Title: A resolution approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $22,000,000 of Multifamily Housing Revenue Bonds for The Stella. Declares the intent of the City to issue an amount not to exceed $22,000,000 of Multifamily Housing Revenue Bonds for Gorman & Company, LLC, or its affiliates, to finance The Stella project to construct a new four-story, 132-unit apartment complex including 16 units limited to 30% Area Median Income (AMI), 97 units limited to 60% AMI, 18 units limited to 80% AMI, and one manager unit, located at the southwest corner of East 52nd Avenue and Lincoln Street in Council District 9. The Committee approved filing this item at its meeting on 6-18-19.
Indexes: Jonathan Griffin
Attachments: 1. RR19 0585 DOF Inducement Resolution The Stella, 2. 19-0585 Filed Resolution Denver Laradon II 2019 Inducement Resolution, 3. 19-0585 Filed Resolution Denver Laradon II 2019 Inducement Resolution.pdf, 4. 19-0585 - signed.pdf
Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

Date Submitted: 6-10-19

Requesting Agency: Finance
Division:

Subject Matter Expert Name: Michael Kerrigan
Email Address: Michael.Kerrigan@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 and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $22,000,000 of Multifamily Housing Revenue Bonds for The Stella.
Declares the intent of the City to issue an amount not to exceed $22,000,000 of Multifamily Housing Revenue Bonds for Gorman & Company, LLC, or its affiliates, to finance The Stella project to construct a new four-story, 132-unit apartment complex including 16 units limited to 30% Area Median Income (AMI), 97 units limited to 60% AMI, 18 units limited to 80% AMI, and one manager unit, located at the southwest corner of East 52nd Avenue and Lincoln Street in Council District 9. The Committee approved filing this item at its meeting on 6-18-19.
body

Affected Council District(s) or citywide? Council District 9

Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
The proposed resolution is to declare the intent of the City and County of Denver, Colorado to issue an amount not to exceed $22,000,000 of its Multifamily Housing Revenue Bonds for The Stella a proposed project located at the southwest corner of E.52nd Ave. and Lincoln Street in Council District 9...

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