City and County of Denver - File #: 22-0673

• File #: 22-0673
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 5/27/2022
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 6/20/2022
• Final action: 6/20/2022
• Title: A resolution approving a proposed First Amendment and Modification Agreement between the City and County of Denver and Yale Station Apartments, LLC to amend and modify the terms and conditions of the loan agreement related to the 50-unit senior housing project located at 5307 E. Yale Avenue. Amends an agreement with Yale Station Apartments, LLC, to preserve the City's covenant and stipulate how a conflict between United States Department of Housing and Urban Development and City covenants is to be addressed if any should arise, at the 50-unit senior housing project located at 5307 East Yale Avenue in Council District 4. No change to agreement duration or amount (HOST-202263068-01). The last regularly scheduled Council meeting within the 30-day review period is on 7-11-22. The Committee approved filing this item at its meeting on 6-8-22.
• Indexes: Emily Lapel

Date	Ver.	Action By	Action	Result
6/21/2022	1	Council President	signed
6/20/2022	1	City Council	adopted	Pass
6/8/2022	1	Safety, Housing, Education & Homelessness Committee	approved by consent	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 5-30-22

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name: Jack Wylie
Email Address: Jack.Wylie@denvergov.org
Phone Number:

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 Yale Station Apartments, LLC to amend and modify the terms and conditions of the loan agreement related to the 50-unit senior housing project located at 5307 E. Yale Avenue.
Amends an agreement with Yale Station Apartments, LLC, to preserve the City's covenant and stipulate how a conflict between United States Department of Housing and Urban Development and City covenants is to be addressed if any should arise, at the 50-unit senior housing project located at 5307 East Yale Avenue in Council District 4. No change to agreement duration or amount (HOST-202263068-01). The last regularly scheduled Council meeting within the 30-day review period is on 7-11-22. The Committee approved filing this item at its meeting on 6-8-22.
body

Affected Council District(s) or citywide? 4

Contract Control Number: HOST-202263068-01

Vendor/Contractor Name (including any "DBA"): Yale Station Apartments, LLC

Type and Scope of services to be performed:
The borrower, Yale Station Apartments, LLC, is in the process of refinancing the project located at 5307 East Yale Avenue. The amendment increases the subordination limit from $3,300,000 to $5...