City and County of Denver - File #: 20-0799

• File #: 20-0799
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 8/3/2020
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 8/24/2020
• Final action: 8/24/2020
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and 48Race Residences, LLLP for a loan to support the construction of 150 affordable housing units in Elyria-Swansea. Approves a loan agreement with 48Race Residences, LLLP for $3,750,000 and for sixty years to support the construction of Vi?a, a project providing 150 income-restricted units as the residential component of a mixed-use project that will include other community-serving uses located at 48th Avenue and Race Street in Council District 9 (HOST-202053962). The last regularly scheduled Council meeting within the 30-day review period is on 9-14-20. The Committee approved filing this item at its meeting on 8-12-20.
• Indexes: Emily Lapel

Date	Ver.	Action By	Action	Result
8/24/2020	1	Council President	signed
8/24/2020	1	City Council	adopted	Pass
8/12/2020	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-03-20

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 48Race Residences, LLLP for a loan to support the construction of 150 affordable housing units in Elyria-Swansea.
Approves a loan agreement with 48Race Residences, LLLP for $3,750,000 and for sixty years to support the construction of Vi?a, a project providing 150 income-restricted units as the residential component of a mixed-use project that will include other community-serving uses located at 48th Avenue and Race Street in Council District 9 (HOST-202053962). The last regularly scheduled Council meeting within the 30-day review period is on 9-14-20. The Committee approved filing this item at its meeting on 8-12-20.
body

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

Contract Control Number: HOST-202053962

Vendor/Contractor Name (including any "DBA"): 48Race Residences, LLLP

Type and Scope of services to be performed:
This project is born out of a long-term partnership between the City and County of Denver and the Urban Land Conservancy, which partnered with the City to acquire this site several years ago. The project developer, Columbia Ventures, has worked with the City and neighborhood stakeholders to provide a unit mix that re...