Housing bonds and property purchase approved
At a glance
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The committee approved filing three housing and property-related measures: a plan to issue up to $27 million in multifamily housing revenue bonds for Green Valley Vistas, up to $19.4 million for Link and Pin Apartments, and a purchase of 1028 North Acoma Street for $3,019,340 along with a $3,195,280 fund transfer for that acquisition. It also approved consent items adding $250,000 to a sewer-parts purchase order and approving a $20 million master purchase order for cab and chassis.
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What this means
These actions move forward financing for two affordable housing projects and the city’s purchase of property at 1028 North Acoma Street in the Civic Center neighborhood. The property purchase is tied to a transfer of Parks Legacy funds to pay for the acquisition. The committee also expanded a sewer-parts contract and approved a large vehicle purchase order for city fleets.
Key decisions
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- Recommended approval for filing of Council Resolution 26-0995, with approval of the exemption, by a 3-2 vote.
- Approved for filing Council Resolutions 26-0996, 26-0997, and 26-0998 in a block by a 5-0 vote.
- Advanced financing for the Green Valley Vistas project through up to $27,000,000 in multifamily housing revenue bonds.
- Advanced financing for the Link and Pin Apartments project through up to $19,400,000 in multifamily housing revenue bonds.
- Approved the purchase of 1028 North Acoma Street for $3,019,340.
- Approved a $3,195,280 rescission, transfer, and appropriation from the Parks Legacy Special Revenue Fund for that acquisition.
- Approved by consent an additional $250,000 for Neverest Equipment, LLC for specialized sewer parts.
- Approved by consent a $20,000,000 master purchase order with Trans-West, Inc. for cab and chassis.
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Meeting information
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Finance and Business
Agenda
- Attendance
- Action Items
- Memorializes a decision by City Council in accordance with Section 39-3-124, Colorado Revised Statutes, concerning certain property leased by the Broadway Park North Metropolitan District No. 1 (f/k/a BMP Metropolitan District No. 1).
- Executive Session
- A resolution declaring the intent of the City and County of Denver, Colorado, to use its best efforts to issue housing revenue bonds or mortgage credit certificates to provide financing of residential facilities for low- and middle-income families or persons; prescribing certain terms and conditions of such bonds and certificates; and containing other provisions relating to the proposed issuance of such bonds and certificates.
- Approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $27,000,000.00 of Multifamily Housing Revenue Bonds for the Green Valley Vistas project, affordable housing apartment building, in Council District 11.
- Approving and evidencing the intention of the City and County of Denver, Colorado to issue an amount not to exceed $19,400,000 of Multifamily Housing Revenue Bonds for the Link and Pin Apartments project, affordable housing apartment building, in Council District 9.
- Approves a Purchase and Sale Agreement between the City and County of Denver and 1028 Acoma Partners LLC to purchase 1028 North Acoma Street for $3,019,340.00 in the Civic Center Neighborhood, in Council District 10 (FINAN-202684825).
- Approves a rescission and an appropriation of $3,195,280.00 in the Parks Legacy Special Revenue Fund (15828) and makes a transfer to and an appropriation in the Parks Legacy Improvement Projects Fund (36050) to be utilized for the acquisition of 1028 North Acoma Street in the Civic Center Neighborhood, in Council District 10.
- Consent Items
- Amends a Master Purchase Order (MPO) with Neverest Equipment, LLC to add $250,000.00 for a new total of $700,000.00 for the purchase of specialized sewer parts. No change to MPO end date, citywide (SC-00007252).
- Approves a Master Purchase Order with Trans-West, Inc. for $20,000,000.00 with an end date of 7-9-2031 for the purchase of cab and chassis for the Department of Transportation and Infrastructure Fleet and Denver International Airport Fleet, citywide (SC-00011370).
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