Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 12-14-20
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 First Amendment and Modification Agreement between the City and County of Denver and Atlantis Community Foundation to amend and modify the terms and conditions of the loan to support the construction of 84 affordable housing units.
Amends a loan agreement with Atlantis Community Foundation by changing the collateral to a collateral assignment of the Deed of Trust to support construction of 84 affordable rental units at Atlantis II located at 420 West Cedar Avenue in Council District 7. No change to agreement amount or duration (HOST-202056902). The last regularly scheduled Council meeting within the 30-day review period is on 1-25-21. The Committee approved filing this item at its meeting on 12-23-20.
body
Affected Council District(s) or citywide? Council District 7
Contract Control Number: HOST-202056902
Vendor/Contractor Name (including any "DBA"): Atlantis Community Foundation
Type and Scope of services to be performed:
This amendment is required to authorize an approach to collateral known as a collateral assignment. This is required because the entity granting HOST's Deed of Trust is different from the non-profit sponsor to whom HOST is directly lending. The difference is that the borrower is ca...
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