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File #: 20-0094    Version: 1
Type: Resolution Status: Adopted
File created: 1/27/2020 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 2/18/2020 Final action: 2/18/2020
Title: A resolution approving a proposed Second Amendment and Modification Agreement between the City and County of Denver and Habitat for Humanity of Metro Denver, Inc. to amend and modify the terms and conditions of the loan to support the construction of 32 units of affordable for-sale houses located at 43rd & Elizabeth in Globeville-Elyria Swansea. Amends a loan agreement with Habitat for Humanity of Metro Denver to align requirements with Habitat's new 90-year covenant, as well as allowing subsequent sales to households at or below 100% Area Median Income (AMI) immediately, not after 21 years, and adding an exhibit describing long term compliance requirements for funds that were used for land acquisition and hard construction costs to develop 32 homeownership units located at 43rd and Elizabeth Street in Council District 9. No change to agreement amount (OEDEV-201736287-02). The last regularly scheduled Council meeting within the 30-day review period is on 3-9-20. The Committee approved ...
Indexes: Emily Lapel
Attachments: 1. RR20 0094 HOST Habitat for Humanity 43rd and Elizabeth, 2. RR20 0094 HOST Habitat for Humanity 43rd and Elizabeth Info Sheet, 3. 20-0094 Filed Resolution_Habitat for Humanity of Metro Denver, Inc. 202053100-02 Alfresco 201736278-02, 4. 20-0094 Second Amendment and Modification Agreement_Habitat for Humanity of Metro Denver, Inc., 202053100-02 Alfresco 201736287-02, 5. 20-0094 Filed Resolution_Habitat for Humanity of Metro Denver, Inc., 6. 20-0094 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 1-27-20

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:

Name: Jennifer Siegel
Email: Jennifer.siegel@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 Second Amendment and Modification Agreement between the City and County of Denver and Habitat for Humanity of Metro Denver, Inc. to amend and modify the terms and conditions of the loan to support the construction of 32 units of affordable for-sale houses located at 43rd & Elizabeth in Globeville-Elyria Swansea.
Amends a loan agreement with Habitat for Humanity of Metro Denver to align requirements with Habitat's new 90-year covenant, as well as allowing subsequent sales to households at or below 100% Area Median Income (AMI) immediately, not after 21 years, and adding an exhibit describing long term compliance requirements for funds that were used for land acquisition and hard construction costs to develop 32 homeownership units located at 43rd and Elizabeth Street in Council District 9. No change to agreement amount (OEDEV-201736287-02). The last regularly scheduled Council meeting within the 30-day review period is on 3-9-20. The Committee approved filing this item at its meeting on 2-5-20. ...

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