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File #: 20-1072    Version: 1
Type: Resolution Status: Adopted
File created: 9/28/2020 In control: Finance & Governance Committee
On agenda: 10/20/2020 Final action: 10/20/2020
Title: A resolution approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $5,100,000 of Multifamily Housing Revenue Bonds for La Alma. A resolution approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $5,100,000 of Multifamily Housing Revenue Bonds for La Alma Apartments project to support the preservation of affordable, Section 8-supported units in Lincoln Park/La Alma in Council District 3. The Committee approved filing this item at its meeting on 10-6-20.
Indexes: Zach Rothmier
Attachments: 1. RR20 1072 HOST La Alma Apartments Inducement Resolution, 2. Inducement Resolution Request- La Alma PAB as submitted, 3. La Alma PAB Inducement Resolution 100620, 4. 20-1072 Filed Resolution_Denver - La Alma - 2020 Inducement Resolution, 5. 20-1072 Filed Resolution_Denver - La Alma - 2020 Inducement Resolution, 6. 20-1072 - signed
Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

Date Submitted: 9-28-20

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 and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $5,100,000 of Multifamily Housing Revenue Bonds for La Alma.
A resolution approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $5,100,000 of Multifamily Housing Revenue Bonds for La Alma Apartments project to support the preservation of affordable, Section 8-supported units in Lincoln Park/La Alma in Council District 3. The Committee approved filing this item at its meeting on 10-6-20.
body

Affected Council District(s) or citywide? Council District 3

Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
Community Preservation Partners has requested access to $5,025,408 in Private Activity Bonds (PAB) from the Department of Local Affairs Statewide Balance, in order to rehabilitate and preserve affordability of a 20-unit, scattered-site Section 8 portfolio in the Lincoln Park/La Alma neighborhood. Due to Private Activity Bond constraints, HOST is moving forward with an inducement resolution entirely conditioned upon award of Statewide...

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