Approve an amendment to an existing loan agreement with Del Norte Neighborhood Development Corporation for the acquisition of vacant land, closing costs, consultant fees, appraisal and market study costs, and tap fees associated with property to be developed at 1402 Irving Street in Council District 1 (201208314). (HEALTH SAFETY EDUCATION AND SERVICES) Approves an amendment to an existing loan agreement with Del Norte Neighborhood Development Corporation for the acquisition of vacant land, closing costs, consultant fees, appraisal and market study costs, and tap fees associated with property to be developed at 1402 Irving Street in Council District 1 (201208314). The last regularly scheduled Council meeting within the 30-day review period is on ???.  The Committee approved filing this bill at its meeting on 1-7-14.
We are. This particular ordinance is asking that we allow yet another million dollars to be spent on. It's not I've got not a city money, but we're just allowing that money to be spent on construction so that we're allowing that contract to go up and we're allowing the mortgage to go up by 750,000. Regardless of how you feel about affordable housing, why do you think that the city amount of money which came through federal funds is excessive, which it actually is? It's a lower amount than usual. You still have a lot of government money in this. And from my perspective, I want government money spent extremely frugally. I want the most number of people. Possible to get benefit, and I do not want what I consider to be an extravagant project. So I'll be voting against this. Thank you, Councilwoman. But Councilwoman Kennish. Thank you, Madam President. I mentioned last week that myself and a couple other colleagues had done inquiries to the Denver Housing Authority to get a sense of how the cost per unit in this project actually compared to others that are being built very frugally by the Housing Authority. And I will be sending this to my colleagues with a quick clarification that I sent to the department. But the answer was, when you include the costs of land and you include the design costs and the construction costs for the recent projects in the LA, All My Neighborhood, I think, which had overwhelming support from this council because of the importance of diversifying the neighborhood. The per unit cost there for 93 units was 241,000 a unit. The per unit cost for the 87 unit complex in phase three was 265,000 per unit and the cost that's coming up in phase four will be 255,000. So the costs that are involved in this project are actually very much in line with what is going on in other redevelopment areas because and this is a good thing, the value of land in our city is up, as are the costs of construction. When people are back at work and there's more demand, it affects the prices of both the materials and the workers. So. So what we're seeing in this project is very much in line with other publicly supported projects that are being done by the Housing Authority, one of the most nationally recognized housing authorities we have in the country . So I think that although it's unfortunate and frustrating when you see costs go up, for me personally, these costs are not out of line with those. And I hope that my colleagues once again support this bill tonight. Thank you. Thank you, Councilwoman. Councilman Brooks? Yes. Tell someone can you just touch on. I just wanted to mention this, but number one, I'm the chair for the Health Education Services Services Education Services Committee. And I just wanted to let folks know this came through. Our committee passed unanimously because we got a chance to get into the weeds a little bit and understand that this we're not adding any new money to this. The what they're asking to do is to add some money. And we will be, you know, the subordinate loan and we'll also be fully collateralized when this construction project is complete. And so that's just something important to continue to think about. And Councilwoman Kenneth touched on it, but I wanted to reiterated that construction costs are rising all over the city. And anyone who is developing any kind of unit or the project is going to be dipping into their contingency and talking to banks for a little bit more leverage. And so it's important that we get this through council so that we can be in a better position and we can have a better project. Thank you. Thank you. Councilwoman Brooks. Councilwoman Rob. Thank you, Madam President. I didn't address this last week, but and I, too, was concerned with the initial comments I had heard and after after I had missed the first time this came up at council and did some research. But when I really look at this site, I think it is a fantastic location. Is it an expensive site? Yes, it's very close to downtown. It's basically over the highway just at Federal Boulevard into the center of our city. And we are talking about a site where there will be child care and library services available without transportation. Many of us know that transportation you do think transportation costs can greatly reduce your housing costs. And so, to me, these units, when they are rented, will be more affordable than your average affordable unit. It's also a great catalyst for the entire neighborhood. The city is already investing in a great facility there. The library, which to be honest, did have increased costs because of some of the land issues there that this project has also faced, which is probably the reason that there had to be a little more money borrowed from the bank. So I just want to say that I am wholeheartedly behind this in our efforts to develop affordable housing. This is the way to do it. Thank you, Councilman. Councilwoman Shephard. Thank you, Madam President. I actually spoke about this at great length last week. And I don't see the need to, you know, rehash all of that. Some of the very same sentiments have been mentioned by my colleagues this evening. But I do just want to highlight with what Councilwoman Robb said about transportation costs. The average family spends 17% of their budget on transportation. It is the second highest expense for most families after a. Mortgage or rent being the highest. So the fact that it is on the busiest bus line in the entire city, that being the West Colfax line, and also just blocks from the new light rail that has just gone into the south in the gulch is makes this exactly an excellent location for connecting folks to job centers such as downtown in the federal center and to the other services that they need. So I am very supportive of this and highly encourage all of my colleagues to support it as well. Thank you. Thank you, Councilwoman Sheppard. Councilman Ortega. I just have to make my disclaimer. Notice that I serve as the board chair of this organization and will be abstaining from the vote. Thank you, Councilwoman Ortega. All right. Looks like we're ready for the roll call, Madam Secretary. But no, her din can eat lemon. Hi. Montero. Ortega Abstain. LOPEZ Oh, sorry. NEVITT Hi. Rob Shepherd. Brooks Brown. Madam President. Madam Secretary, close the voting. Announce the results. Tonight. One nay, one abstention. Ten eyes, one nay, one abstention. The bill passes. Actually, that was on final consideration. Right? All right. All other bills for introduction are ordered, published, and we are ready for the black vote. Councilman Kennish, will you please put the resolutions on the floor?