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File #: 22-0018    Version: 1
Type: Resolution Status: Adopted
File created: 12/27/2021 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 1/18/2022 Final action: 1/18/2022
Title: A resolution approving a proposed Second Amendment and Modification Agreement between the City and County of Denver and 101 Apartment Developers, LLC to amend and modify the Loan Agreement to revise and correct the description of the collateral. Amends a loan agreement with 101 Apartment Developers, LLC by updating the legal description contained in the loan document to match the Planned Community Declaration recorded on the site at 101 Broadway in Council District 7 for a 102-unit project affordable to tenants at or below 60% area median income. No change to agreement amount or duration (OEDEV - 201952558).The last regularly scheduled Council meeting within the 30-day review period is on 2-7-22. The Committee approved filing this item at its meeting on 1-5-22.
Indexes: Emily Lapel
Attachments: 1. RR22 0018 HOST 101 Broadway, 2. 22-0018 Filed Resolution_101 Apartment Developers LLC 201952558-02 ecs, 3. 22-0018 Second Amendment and Modification Agreement 101 Apartment Developers, LLC 201952558-02, 4. 22-0018 Filed Resolution_101 Apartment Developers LLC, 5. 22-0018 - signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 12-27-21

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:

Name: Derek Woodbury
Email: derek.woodbury@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 Second Amendment and Modification Agreement between the City and County of Denver and 101 Apartment Developers, LLC to amend and modify the Loan Agreement to revise and correct the description of the collateral.
Amends a loan agreement with 101 Apartment Developers, LLC by updating the legal description contained in the loan document to match the Planned Community Declaration recorded on the site at 101 Broadway in Council District 7 for a 102-unit project affordable to tenants at or below 60% area median income. No change to agreement amount or duration (OEDEV - 201952558).The last regularly scheduled Council meeting within the 30-day review period is on 2-7-22. The Committee approved filing this item at its meeting on 1-5-22.
body

Affected Council District(s) or citywide? Council District 7

Contract Control Number: OEDEV - 201952558

Vendor/Contractor Name (including any "DBA"): 101 Apartment Developers LLC

Type and Scope of services to be performed:
Executive Summary
1. Change the legal description of our loan security as it is described in our loan documents.

* The existing legal description contained in our loan documents is ...

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