City and County of Denver - File #: 20-0891

• File #: 20-0891
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 8/24/2020
• In control: Business, Arts, Workforce, Climate & Aviation Services Committee
• On agenda: 9/14/2020
• Final action: 9/14/2020
• Title: A resolution approving a proposed Amendatory Agreement between the City and County of Denver and 48th and Race, LLC amending a loan to allow for an extension of time for job creation, foregoing immediate repayments in the event of a ground lease, and allowing for a partial release of collateral in the event of a ground lease for the acquisition of property. Amends a loan agreement with 48th and Race, LLC managed by the Urban Land Conservancy, by adding five years, allowing for an extension of time for job creation, foregoing immediate repayments in the event of a ground lease, and allowing for a partial release of collateral in the event of a ground lease, for the acquisition of property at 48th and Race for affordable housing in Council District 9. No change to agreement amount (OEDEV-202055580). The last regularly scheduled Council meeting within the 30-day review period is on 10-5-20. The Committee approved filing this item at its meeting on 9-2-20.
• Indexes: John Mahoney

Date	Ver.	Action By	Action	Result
9/14/2020	1	Council President	signed
9/14/2020	1	City Council	adopted	Pass
9/2/2020	1	Business, Arts, Workforce, Climate & Aviation Services Committee

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-24-20

Requesting Agency:
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 Amendatory Agreement between the City and County of Denver and 48th and Race, LLC amending a loan to allow for an extension of time for job creation, foregoing immediate repayments in the event of a ground lease, and allowing for a partial release of collateral in the event of a ground lease for the acquisition of property.
Amends a loan agreement with 48th and Race, LLC managed by the Urban Land Conservancy, by adding five years, allowing for an extension of time for job creation, foregoing immediate repayments in the event of a ground lease, and allowing for a partial release of collateral in the event of a ground lease, for the acquisition of property at 48th and Race for affordable housing in Council District 9. No change to agreement amount (OEDEV-202055580). The last regularly scheduled Council meeting within the 30-day review period is on 10-5-20. The Committee approved filing this item at its meeting on 9-2-20.
body

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

Contract Control Number: OEDEV-202055580

Vendor/Contractor Name (including any "DBA"): 48th and Race LLC

Type and ...