City and County of Denver - File #: 20-0294

• File #: 20-0294
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 3/17/2020
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 4/6/2020
• Final action: 4/6/2020
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Kappa Tower II, LLLP to support construction of affordable housing. Approves a loan agreement with Kappa Tower II, LLLP for $700,000 and sixty years to support construction of 70 units of affordable, age-restricted senior housing located at the corner of Central Park Boulevard and Northfield Boulevard in Council District 8 (OEDEV-201952502). The last regularly scheduled Council meeting within the 30-day review period is on 4-27-20. The Committee approved filing this item at its meeting on 3-25-20.
• Indexes: Emily Lapel

Date	Ver.	Action By	Action	Result
4/7/2020	1	Council President	signed
4/6/2020	1	City Council	adopted	Pass
3/25/2020	1	Safety, Housing, Education & Homelessness Committee	approved by consent

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 3-16-20

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:

Name: Nick Emenhiser
Email: Nicholas.Emenhiser@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 Kappa Tower II, LLLP to support construction of affordable housing.
Approves a loan agreement with Kappa Tower II, LLLP for $700,000 and sixty years to support construction of 70 units of affordable, age-restricted senior housing located at the corner of Central Park Boulevard and Northfield Boulevard in Council District 8 (OEDEV-201952502). The last regularly scheduled Council meeting within the 30-day review period is on 4-27-20. The Committee approved filing this item at its meeting on 3-25-20.
body

Affected Council District(s) or citywide? Council District 8

Contract Control Number: OEDEV-201952502

Vendor/Contractor Name (including any "DBA"): Kappa Tower II, LLLP

Type and Scope of services to be performed:
Colorado Housing and Finance Authority (CHFA) awarded this project highly-competitive 9% tax credits in 2018. As a non-profit housing developer, Kappa Housing Inc., will be able to build capacity and expertise through this project and further their mission to provide housing to seniors in need. The project is a 70-unit, age-restricted, elevator-served building located at the corner of Central Park Boulevard and Northfield Boulevard in Stap...