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File #: 23-1674    Version: 1
Type: Resolution Status: Adopted
File created: 10/31/2023 In control: Safety, Housing, Education & Homelessness Committee
On agenda: 11/13/2023 Final action: 11/13/2023
Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and 1900 South, LLC to assist with the development and construction of a 98-unit affordable housing development, located at 1901 S. Navajo Street, Denver, Colorado. Approves the loan agreement with 1900 South, LLC, in the amount of $4,410,000 located at 1901 S. Navajo Street to assist with the development and construction of 98 dwelling units, 97 of which will be income-restricted, and will be known as Ruby Vista, in Council District 2. HOST-202371005. The last regularly scheduled Council meeting within the 30-day review period is on 12-4-2023. The Committee approved filing this item at its meeting on 11-8-2023.
Indexes: Anne Wallace
Attachments: 1. RR23-1674_HOST_-Ruby Vista Development, 2. 23-1674 Filed Resolution_1900 South LLC 11.07.pdf, 3. 23-1674_1900_South_LLC_Loan_Agreement_$4410000_AH_Linkage_Fee_Ruby_Vista, 4. 23-1674 Filed Resolution_1900 South LLC, 5. 23-1674_signed
Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 11-6-2023

Requesting Agency: HOST
Division:

Subject Matter Expert Name: Chris Lowell
Email Address: Christopher.lowell@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 1900 South, LLC to assist with the development and construction of a 98-unit affordable housing development, located at 1901 S. Navajo Street, Denver, Colorado.
Approves the loan agreement with 1900 South, LLC, in the amount of $4,410,000 located at 1901 S. Navajo Street to assist with the development and construction of 98 dwelling units, 97 of which will be income-restricted, and will be known as Ruby Vista, in Council District 2. HOST-202371005. The last regularly scheduled Council meeting within the 30-day review period is on 12-4-2023. The Committee approved filing this item at its meeting on 11-8-2023.
body

Affected Council District(s) or citywide?
Council District 7
Contract Control Number:
HOST-202371005
Vendor/Contractor Name (including any "DBA"):
1900 South, LLC
Type and Scope of services to be performed:
Construction of a 98-unit project just south of Ruby Hill Park in South Denver with 35% of units family-sized (3 or 4 bedrooms). The project was awarded 4% low-income housing tax credits, along with necessary Private Activity Bonds through CHFA. Primarily affordable at the 50% and 60% AMI levels with 7 units at the 30% AMI level.

The five-story, 98-uni...

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