A resolution approving a proposed Third Amendment and Modification Agreement between the City and County of Denver and 3501 Chestnut Development LLC and Shanahan Development LLC to modify the repayment terms of the loan. Amends a loan agreement with 3501 Chestnut Development LLC, and Shanahan Development LLC by extending the construction loan term, converting a portion of the construction loan to a performance loan, and exempting one unit from income qualification for the initial homebuyer only for the development of a 49-unit condominium project, in Council District 9. HOST-202371411 (HOST-202158709). The last regularly scheduled Council meeting within the 30-day review period is on 2-5-2024. The Committee approved filing this item at its meeting on 1-3-2024.

23-2018 · Resolution · Adopted

Timeline

• Jan 3, 2024: approved by consent (Safety, Housing, Education & Homelessness Committee)
• Jan 16, 2024: adopted (City Council)
• Jan 16, 2024: signed (Council President)