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File #: 19-1118    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 10/14/2019 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 11/18/2019 Final action: 11/18/2019
Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Laradon NW, LLC to construct affordable housing in the Globeville neighborhood. Approves a loan agreement with Laradon NW, LLC for $3,500,000 and for 60 years in support of the Stella Project, a residential 4-story building with 131 affordable housing units located at 5190 North Broadway in Council District 9 (OEDEV-201952012). The last regularly scheduled Council meeting within the 30-day review period is on 12-9-19. The Committee approved filing this item at its meeting on 10-23-19.
Indexes: Emily Lapel
Attachments: 1. RR19 1118 OED The Stella Loan Agreement Laradon, 2. The Stella Loan 102119 Mon1040, 3. 19-1118 Filed Resolution_Laradon NW, LLC._201952012-00, 4. 19-1118 Loan Agreement Laradon NW LLC_201952012-00, 5. 19-1118 Filed Resolution_Laradon NW, LLC, 6. 19-1118 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 10-14-19

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 Laradon NW, LLC to construct affordable housing in the Globeville neighborhood.
Approves a loan agreement with Laradon NW, LLC for $3,500,000 and for 60 years in support of the Stella Project, a residential 4-story building with 131 affordable housing units located at 5190 North Broadway in Council District 9 (OEDEV-201952012). The last regularly scheduled Council meeting within the 30-day review period is on 12-9-19. The Committee approved filing this item at its meeting on 10-23-19.
body

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

Contract Control Number: OEDEV-201952012

Vendor/Contractor Name (including any "DBA"): Laradon NW, LLC

Type and Scope of services to be performed:
EXECUTIVE SUMMARY

Gorman & Co. has secured a 99-year land lease with the Laradon Hall Societ...

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