City and County of Denver - File #: 23-0443

• File #: 23-0443
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 4/14/2023
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 10/30/2023
• Final action: 10/30/2023
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and Rahf V Drehmoor, LLC to support the rehabilitation of 74 income-restricted units at Drehmoor Apartments, located at 215 East 19th Avenue in Council District 10. Approves a performance loan agreement with RAHF V DREHMOOR, LLC for $752,875 and 60 years to support the rehabilitation of 74 income-restricted units at Drehmoor Apartments, located at 215 East 19th Avenue in Council District 10 (HOST-202367246). The last regularly scheduled Council meeting within the 30-day review period is on 11-20-2023. The Committee approved filing this item at its meeting on 4-26-2023.
• Indexes: Anne Wallace

Date	Ver.	Action By	Action	Result
10/30/2023	1	Council President	signed
10/30/2023	1	City Council	adopted	Pass
4/26/2023	1	Safety, Housing, Education & Homelessness Committee	approved for filing	Pass

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 4-24-2023

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name: Justin Hill
Email Address: Justin.Hill@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 Loan Agreement between the City and County of Denver and Rahf V Drehmoor, LLC to support the rehabilitation of 74 income-restricted units at Drehmoor Apartments, located at 215 East 19th Avenue in Council District 10.
Approves a performance loan agreement with RAHF V DREHMOOR, LLC for $752,875 and 60 years to support the rehabilitation of 74 income-restricted units at Drehmoor Apartments, located at 215 East 19th Avenue in Council District 10 (HOST-202367246). The last regularly scheduled Council meeting within the 30-day review period is on 11-20-2023. The Committee approved filing this item at its meeting on 4-26-2023.
body

Affected Council District(s) or citywide? 10

Contract Control Number: HOST-202367246

Vendor/Contractor Name (including any "DBA"): RAHF V DREHMOOR, LLC

Type and Scope of services to be performed:

Jonathan Rose Companies is requesting $752,875 in funding to complete the rehabilitation of Drehmoor Apartments. This property is subject to a project-based Section 8 Housing Assistance Payments (HAP) contract which expires in 2040. Most, if not all residents are seniors on SSI disability income, therefore, all units serve very-low income tenancy and 74 units are 30% Area Median Incom...