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File #: 21-1001    Version: 1
Type: Resolution Status: Adopted
File created: 8/30/2021 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 9/20/2021 Final action: 9/20/2021
Title: A resolution approving a proposed First Amendment to Loan Agreement between the City and County of Denver and Morrison Road, LLC doing business as Gorman Morrison Road, LLC to amend and modify the terms and conditions of the loan to support the construction of an affordable housing development known as Avenida del Sol. Amends a loan agreement with Morrison Road, LLC doing business as Gorman Morrison Road, LLC by revising and reconciling the cash flow repayment split with the Colorado Division of Housing in Exhibit F of the loan agreement for the Avenida del Sol project, containing 80 affordable apartment units located at 5048 Morrison Road in Council District 3. No change to agreement amount or duration (202054179-01). The last regularly scheduled Council meeting within the 30-day review period is on 10-11-21. The Committee approved filing this item at its meeting on 9-8-21.
Indexes: Emily Lapel
Attachments: 1. RR21 1001 HOST Avenida del Sol, 2. 21-1001 Filed Resolution_Morrision Road LLC doing business as Gorman Morrison Road LLC 202054179-01, 3. 21-1001 First Amendment to Loan Agreement Morrison Road LLC dba Gorman Morrison Road, LLC 202054179-01, 4. 21-1001 Filed Resolution_Morrision Road LLC doing business as Gorman Morrison Road LLC, 5. 21-1001 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-30-21

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:

Name: Elvis Rubio
Email: Elvis.Rubio@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 to Loan Agreement between the City and County of Denver and Morrison Road, LLC doing business as Gorman Morrison Road, LLC to amend and modify the terms and conditions of the loan to support the construction of an affordable housing development known as Avenida del Sol.
Amends a loan agreement with Morrison Road, LLC doing business as Gorman Morrison Road, LLC by revising and reconciling the cash flow repayment split with the Colorado Division of Housing in Exhibit F of the loan agreement for the Avenida del Sol project, containing 80 affordable apartment units located at 5048 Morrison Road in Council District 3. No change to agreement amount or duration (202054179-01). The last regularly scheduled Council meeting within the 30-day review period is on 10-11-21. The Committee approved filing this item at its meeting on 9-8-21.
body

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

Contract Control Number: 202054179-01

Vendor/Contractor Name (including any "DBA"): Morrison Road, LLC a Wisconsin LLC dba in Colorado as Gorman Morrison Road, LLC

Type and Scope of services to be performed:
This affordable housing deve...

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