City and County of Denver - File #: 22-1682

• File #: 22-1682
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 12/19/2022
• In control: Safety, Housing, Education & Homelessness Committee
• On agenda: 1/30/2023
• Final action: 1/30/2023
• Title: A resolution approving a proposed Loan Agreement between the City and County of Denver and 38th and Holly LLLP to develop affordable multi-family housing with 253 units, located in Council District 8. Approves a loan agreement with 38th and Holly, LLLP for $8,319,000 to develop affordable multi-family housing with 253 units, located at 5908 and 5909 East 38th Avenue in Council District 8 (HOST-202264272). The last regularly scheduled Council meeting within the 30-day review period is on 2-21-2023. The Committee approved filing this item at its meeting on 1-4-2023.
• Indexes: Anne Wallace

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

Contract Request Template (Contracts; IGAs; Leases)

Date Submitted: 12-26-2022

Requesting Agency: Department of Housing Stability
Division:

Subject Matter Expert Name:
Email Address:
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 38th and Holly LLLP to develop affordable multi-family housing with 253 units, located in Council District 8.
Approves a loan agreement with 38th and Holly, LLLP for $8,319,000 to develop affordable multi-family housing with 253 units, located at 5908 and 5909 East 38th Avenue in Council District 8 (HOST-202264272). The last regularly scheduled Council meeting within the 30-day review period is on 2-21-2023. The Committee approved filing this item at its meeting on 1-4-2023.
body

Affected Council District(s) or citywide? 8

Contract Control Number: HOST-202264272

Vendor/Contractor Name (including any "DBA"): 38th and Holly, LLLP

Type and Scope of services to be performed:
Delwest has been awarded 4% Low Income Housing Tax Credits (LIHTC) by the Colorado Housing Finance Authority (CHFA)for the development of 253 units at the northeast corner of 38th and Holly. Delwest plans to use Income Averaging at the property to address a full spectrum of income levels, including housing capped at 80% AMI and deeper affordable populations from 60% through 30% AMI's. There will be 84 one-bedroom, 106 two-bedroom two bath, and 34 three-bedroom two-bath units at the property. In addition, the prop...