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File #: 20-0491    Version: 1
Type: Resolution Status: Adopted
File created: 5/18/2020 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 6/15/2020 Final action: 6/15/2020
Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Brothers Redevelopment, Inc. to provide financing for the acquisition and development of affordable housing in the Globeville and Elyria Swansea neighborhoods. Approves a performance loan agreement with Brothers Redevelopment, Inc. for $2,000,000 and through 12-31-22 for the creation of nine units for affordable homeownership through new construction or the acquisition and rehabilitation of existing units, the acquisition of land for homeownership development and associated administrative costs in the Globeville, Elyria, and Swansea neighborhoods in Council District 9 (HOST-202053863-00). The last regularly scheduled Council meeting within the 30-day review period is on 6-29-20. The Committee approved filing this item at its meeting on 6-3-20.
Indexes: Emily Lapel
Attachments: 1. RR20 0491 HOST Brothers GES Land Trust Initiative, 2. HOST_Land Trust Safety Committee 060320, 3. 20-0491 Filed Resolution_Brothers Redevelopment, Inc., 202053863-00, 4. 20-0491 Loan Agreement Brothers Redevelopment, Inc., 202053863-00, 5. 20-0491 Filed Resolution_Brothers Redevelopment, Inc., 6. 20-0491 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 5-18-20

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:

Name: Jennifer Siegel, 720-913-1667
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 Loan Agreement between the City and County of Denver and Brothers Redevelopment, Inc. to provide financing for the acquisition and development of affordable housing in the Globeville and Elyria Swansea neighborhoods.
Approves a performance loan agreement with Brothers Redevelopment, Inc. for $2,000,000 and through 12-31-22 for the creation of nine units for affordable homeownership through new construction or the acquisition and rehabilitation of existing units, the acquisition of land for homeownership development and associated administrative costs in the Globeville, Elyria, and Swansea neighborhoods in Council District 9 (HOST-202053863-00). The last regularly scheduled Council meeting within the 30-day review period is on 6-29-20. The Committee approved filing this item at its meeting on 6-3-20.
body

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

Contract Control Number: HOST-202053863-00

Vendor/Contractor Name (including any "DBA"): Brothers Redevelopment, Inc.

Type and Scope of services to be performed:
The purpose of this agreement is to provide a performance loan from the Department of Housing Stability ("HOST") to Brothers Redevelopment, Inc. ("Brothers"), acting as t...

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