South Platte River Committee
TL;DR
The South Platte River Committee approved two agreements to develop and support a 60-unit affordable housing complex for homeless individuals in north Denver. The city will provide $3.2 million in loan funding for construction and $1.35 million for support services through 2041.
Key Decisions
- Loan agreement for Park Avenue Apartments construction Approved
- Funding agreement for wraparound services at Park Avenue Apartments Approved
Agenda
- Consent Items
- 26-0501 Approves the loan agreement with The Colorado Coalition for the Homeless for $3,200,000.00 with a maturity date of 720 months from date of the Promissory Note, to develop and construct 60 Permanent Supportive Housing (PSH) affordable rental units at 3721 N Globeville Rd, Denver, CO 80216, in Council District 9 (HOST-202683860).Resolution
- 26-0502 Approves the Funding Agreement with The Colorado Coalition for the Homeless (CCH) for $1,350,000.00 with an end date of 12-31-2041 to provide wraparound services to the residents of the 60-unit Permanent Supportive Housing (PSH) affordable rental project known as Park Avenue Apartments, located at 3721 N Globeville Rd, Denver, CO 80216, in Council District 9, (HOST-202683912).Resolution