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File #: 19-1230    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 11/1/2019 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 12/2/2019 Final action: 12/2/2019
Title: A resolution approving a proposed First Amendment and Modification Agreement between the City and County of Denver and 101 Apartment Developers, LLC to add language allowing the City's loan to take a subordinate position to the Colorado Housing and Finance Authority Land Use Restriction Agreement 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. Amends a loan agreement with 101 Apartment Developers, LLC to add language allowing the City's loan to take a subordinate position to the Colorado Housing and Finance Authority's (CHFA) Land Use Restriction Agreement (LURA) 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. No change to agreement amount or duration (OEDEV-201738188-00). The last regularly scheduled Council meeting withi...
Indexes: Emily Lapel
Attachments: 1. RR19 1230 HOST 101 Broadway Amendment, 2. Amendment re CHFA LURA 111319, 3. 19-1230 Filed Resolution_101 Apartment Developers, LLC 201952558-01 Alfresco 201738188-01, 4. 19-1230 First Amendment and Modification Agreement_101 Apartment Developers LLC 201952558-01 Alfresco 201738188-01, 5. 19-1230 Filed Resolution_101 Apartment Developers, LLC, 6. 19-1230 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 11-1-19

Requesting Agency: Department of Housing Stability
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 First Amendment and Modification Agreement between the City and County of Denver and 101 Apartment Developers, LLC to add language allowing the City's loan to take a subordinate position to the Colorado Housing and Finance Authority Land Use Restriction Agreement 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.
Amends a loan agreement with 101 Apartment Developers, LLC to add language allowing the City's loan to take a subordinate position to the Colorado Housing and Finance Authority's (CHFA) Land Use Restriction Agreement (LURA) 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. No change to agreement amount or duration (OEDEV-201738188-00). The last regularly scheduled Council meeting within the 30-day review period is on 12-23-19. The Committee approved filing this item at its meeting on 11-13-19.
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