Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 2-12-21
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 OPG Green Valley Ranch Partners, LLC to amend and modify the terms and conditions of the loan to support the construction of The Reserves at Green Valley Ranch, comprised of 144 affordable housing units located at 17800 Green Valley Ranch Boulevard.
Amends a loan agreement with OPG Green Valley Ranch Partners, LLC by reducing the loan amount by $900,000 for a new total of $2,100,000 due to an increase in tax credit equity that closed the financing gap to support the construction of The Reserves at Green Valley Ranch, comprised of 144 affordable apartments units located at 17800 Green Valley Ranch Boulevard in Council District 11. No change to agreement duration (HOST-202055465). The last regularly scheduled Council meeting within the 30-day review period is on 3-30-21. The Committee approved filing this item at its meeting on 2-24-21.
body
Affected Council District(s) or citywide? Council District 11
Contract Control Number: HOST-202055465
Vendor/Contractor Name (including any "DBA"): OPG Green Valley Ranch Partners, LLC
Type and Scope of services to be performed:
EXECUTIVE SUMMARY
This amendment is taking advantage o...
Click here for full text