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File #: 22-0932    Version: 1
Type: Resolution Status: Adopted
File created: 8/1/2022 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 9/12/2022 Final action: 9/12/2022
Title: A resolution approving a proposed Fourth Amendatory Agreement between the City and County of Denver and Spector Development, LLC to correct the legal description, allow 3 residential units to be converted from rental to for-sale, modify affordability requirements of residential rental and for-sale income-qualified units, adjust the loan terms, allow an assumption of the loan, forgive default interest, and change the subordination limit for a mixed-use development located at 910 Santa Fe Drive in Council District 3. Amends the agreement with Spector Development, LLC to correct the legal description, allow 3 residential units to be converted from rental to for-sale, modify affordability requirements of residential rental and for-sale income-qualified units, adjust the loan terms, allow an assumption of the loan, forgive $240,000 default interest, and change the subordination limit for a mixed-use development located at 910 Santa Fe Drive in Council District 3 (HOST-202161652-04). The las...
Indexes: Lucas Palmisano
Attachments: 1. RR22-0932 Spector Resolution Request, 2. Powerpoint_Spector_Development_LLC (revised), 3. 22-0932 Filed Resolution_Spector Development LLC_202161652-04, 4. 22-0932 4th AmendAgr_Spector Development LLC_Tugboat LLC_202161652-04, 5. 22-0932 Filed Resolution_Spector Development LLC_202161652-04
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 8-8-2022

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name: Jeremy Brown
Email Address: Jeremy.brown@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 Fourth Amendatory Agreement between the City and County of Denver and Spector Development, LLC to correct the legal description, allow 3 residential units to be converted from rental to for-sale, modify affordability requirements of residential rental and for-sale income-qualified units, adjust the loan terms, allow an assumption of the loan, forgive default interest, and change the subordination limit for a mixed-use development located at 910 Santa Fe Drive in Council District 3.
Amends the agreement with Spector Development, LLC to correct the legal description, allow 3 residential units to be converted from rental to for-sale, modify affordability requirements of residential rental and for-sale income-qualified units, adjust the loan terms, allow an assumption of the loan, forgive $240,000 default interest, and change the subordination limit for a mixed-use development located at 910 Santa Fe Drive in Council District 3 (HOST-202161652-04). The last regularly scheduled Council meeting within the 30-day review period is on 9-26-2022. The Committee approved filing this item at its meeting on 8-24-2022.
body

Affected Council District(s) or citywide? 3

Contract Control Number: HOST-202161652-04

Vend...

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