A bill for an ordinance approving the 101 Broadway Urban Redevelopment Plan and the creation of the 101 Broadway Urban Redevelopment Area and the 101 Broadway Property Tax Increment Area and Sales Tax Increment Area. Approves the 101 Broadway Urban Redevelopment Plan authorizing the creation of an Urban Redevelopment Area and tax increment areas to support the redevelopment of an underutilized and blighted site situated at the northwest corner of 1st Avenue and Broadway in Council District 7. The Committee approved filing this item at its meeting on 5-15-18.
Speakers must stay on the topic of the hearing and must direct your comments. Members of Council please refrain from profane and obscene speech. Direct your comments to Members of Council as a whole and refrain from individual personal attacks. Council woman are taken. Will you please put 563 on the floor? Mr. President, I move. Is that 563 okay, I move that council bill 563 be placed on final consideration and do pass. It has been moved and seconded. The public hearing for 563 is open. May we have the staff report? Tracey, I can. Good afternoon, Mr. Good. Good evening, Mr. President. Members of City Council. My name is Tracy Huggins. I am the executive director of the Denver Urban Renewal Authority, who is here this evening requesting City Council approval of Council Bill 563 to approve the 1 to 1 Broadway Urban Redevelopment Plan establishing the 1 to 1 Broadway Urban Redevelopment Area and the 1 to 1 Broadway sales and property tax increment areas. Here we go. The proposed 21 Broadway urban redevelopment area is comprised of three parcels separated by an alley of approximately 31,500 square feet and is situated at the northwest corner of First Avenue and Broadway in central Denver. The site includes the historic First Avenue Hotel, which is designated an historic landmark by the Denver Landmark Preservation Commission and is now eligible to be included on the National Register of Historic Places. The site is located in Council District seven. The First Avenue Hotel was designed by Charles Quayle and built by the Fleming brothers in 1906 as a 150 single room occupancy hotel. At the time, it was the largest building in the town of South Denver and the central hub for commerce on South Broadway. In 1909, the Fleming Brothers formed the Fleming Brothers Bank, whose headquarters were located at the First Avenue Hotel, along with the headquarters for their construction company. In 1978, the upper floors of the building were condemned for residential occupancy due to due to the lack of electricity and water connections. The ground floor of the building was restored in the 1980s and functioned in 2004. The building became vacant and fell into disrepair. The building was purchased in 2008 by a local restauranteur who opened a highly popular restaurant. You may remember this building as the former home of the El Diablo restaurant. The upper floors, however, remain vacant due to building safety issues. The city foreclosed on the building in 2013, and the owner filed Chapter 11 bankruptcy. The property was purchased by a new entity at an auction in December of 2015, and that entity plans on redeveloping the site. A fundamental consideration in approval of an urban redevelopment plan is the finding that the area is blighted as required by the urban Colorado Urban Renewal Law, to provide evidence supporting counsel's determination that the proposed urban redevelopment area is blighted due to commissioned matrix design group to conduct a condition study. That study, dated May 2018, will be filed with the count with the city clerk as part of the record of this public hearing. In summary, the Blight study found the following five factors that constitute blighting conditions slum deteriorated or deteriorating structures unsanitary or unsafe conditions. The existence of conditions that endanger life or property by fire or other causes. Buildings that are unsafe are unhealthy for persons to live or work in because of building code violations, dilapidation, deterioration, defective design, physical construction or faulty or inadequate facilities, and the existence of health, safety, safety or welfare factors requiring high levels of municipal services or substantial physical, underutilization or vacancy of sites, buildings, or other improvements. These blight factors, individually and collectively impair or arrest the sound growth of the municipality and constitute an economic and social liability and a menace to the public health, safety, morals and welfare of the area. The proposed urban redevelopment plan seeks to eliminate blight through the creation of the 101 Broadway urban redevelopment area. The main goals of the Urban Redevelopment Plan are to eliminate blight, renew and improve the character of the area, encourage residential, retail and commercial development. Encourage and protect existing development more effectively. Use underutilized land. Encourage land use patterns where pedestrians are safe and welcome. Encourage participation of existing property owners in the redevelopment of their property. Encourage high and moderate density development where appropriate. Encourage the re-use of existing buildings, including historic preservation and adaptive reuse. Provide a diverse mix of dense housing options, and improve and provide employment centers near transit. In bringing this urban redevelopment plan forward, DURING has sought to align the goals and objectives of the Urban Redevelopment Plan with the existing city plans for the area, including the Denver Comprehensive Plan 2000 Blueprint, Denver and the Baker Neighborhood Plan. In reviewing the Urban Redevelopment Plan, the Denver Planning Board found that the Urban Redevelopment Plan conforms to Plan 2000 and its approved supplements by furthering several citywide objectives, particularly those focused on historic preservation, adaptive reuse, quality infill development, and the provision of affordable housing. The one on one Broadway Urban Redevelopment Project includes the restoration of the four story historic landmark building. Combined with the construction of a new five story addition, together they will deliver approximately 106 affordable workforce housing units. The units will be studios and one bedrooms at a rent attainable for persons earning not more than 60% of the area median income. In addition to the housing units, the project will deliver approximately 10,000 square feet of ground floor, retail and restaurant space. The project will also include the construction of approximately 20 surface parking spaces. The Urban Redevelopment Plan authorizes TURA to finance projects within the urban redevelopment area by use of tax increment financing. The sales and property tax increment area will be coterminous with the boundaries of the urban redevelopment area. During staff has reviewed the development, budget and performance submitted by the developer and believes there is a financial gap of approximately two and a half million dollars. This financing gap will be addressed by reimbursing eligible costs through sales and property tax increment generated by the redevelopment of the area. Following redevelopment. The area is anticipated to generate approximately $25,000 per year in net property tax increment that would be generated only by the commercial portion of the property and approximately $290,000 per year in net sales tax increment. These incremental revenues will be used to reimburse the developer for eligible expenses over a period not to exceed 25 years. As property tax increment is being contemplated under the plan, state law requires the Urban Renewal Authority to negotiate agreements with the other taxing entities. Dora has negotiated these agreements with the other two property taxing entities. First is Denver Public Schools. During has presented the development plan to DPS in order for them to determine what, if any, impact the plan would have on their ability to deliver services to the area. The analysis conducted by DPS concluded there would be no material impact and have agreed to allow all available property tax increment generated through the DPS mill levy to be retained by Doura for use in supporting the project. In addition, the other taxing entity is the urban drainage and Flood Control District and has also presented the development plan to urban drainage and flood control in order for them to determine what, if any, impact the plan would have on their ability to deliver services to the area. Similar to Denver Public to the Denver Public Schools evaluation, urban drainage has concluded there would be no material impact and have agreed to allow all available property tax increment generated through the urban drainage and flood control district mill levy to be retained by Daera for use in supporting the project. In considering the approval of the 1 to 1 Broadway Urban Redevelopment Plan, City Council must make the following legislative findings, as required by the Colorado Urban Renewal Law. A that the urban redevelopment area described in the plan is found and declared to be a blighted area as defined in the Colorado Urban Renewal Law. And the conditions of blight constitute an economic and social liability and a menace to the public health, safety, morals or welfare. This is a legislative finding by the City Council. Based upon the blight study and other evidence presented to City Council. That the boundaries of the urban redevelopment area have been drawn as narrowly as feasible to accomplish the planning and development objectives of the plan. If any individuals or families are displaced from dwelling units as a result of adoption or implementation of the 101 Broadway Urban Redevelopment Plan, a feasible method exists for the relocation of those individuals or families in accordance with the act. If business concerns are displaced by the adoption or implementation of the Urban Redevelopment Plan, a feasible method exists for the relocation of those business concerns in accordance with the Act. The project area contains no residents, therefore no individuals or families will be displaced. Additionally, due to the vacancy of the project site, no business concerns will be displaced by the project. Written notice of this public hearing has been provided to all property owners, residents and owners of business concerns within the boundaries of the urban redevelopment area. In the resolution setting this public hearing. City Council requested Dura to undertake this task. Written notice was mailed first class mail to all known property owners, residents and owners of business concerns in the one and one Broadway urban redevelopment area on May 24th, 2018, at least 30 days prior to this public hearing. No more than 120 days have passed since the first public hearing before City Council on the plan. And tonight is the first public hearing before council on this urban redevelopment plan. This is the first consideration of an urban redevelopment plan for this site, and thus the City Council has not previously failed to approve an urban redevelopment plan for this site. This is the first consideration by City Council of an Urban Renewal or an urban redevelopment plan for this area. And as such, the requirement to wait at least 24 months since any prior public hearing is inapplicable. Conformance with the Denver Comprehensive Plan. On May 2nd, 2018, the Denver Planning Board unanimously found that the Urban Redevelopment Plan conforms with the Denver Comprehensive Plan and it's applicable supplements. A letter to this effect has been submitted as part of the record of this hearing. The one on one Broadway urban redevelopment plan will afford maximum opportunity, consistent with the sound needs of Denver as a whole for the rehabilitation or redevelopment of the urban redevelopment area by private enterprise. The project area is owned by Digital Cowboy LLC, who intends to undertake the redevelopment project. The Urban Redevelopment Plan does not consist of any area of open land which is to be developed for residential or nonresidential uses or any agricultural land. The Urban Renewal Authority has notified the boards of each taxing entity whose incremental property tax revenue would be allocated under the Urban Redevelopment Plan and have negotiated agreements governing the sharing of incremental property tax revenue. The city and county of Denver can adequately finance and agreements are in place to finance any additional city and county of Denver infrastructure and services required to serve development within the 121 Broadway urban redevelopment area for the period during which the incremental property taxes are paid to the authority. The plan allows for cooperative agreements between the city and borough to address additional infrastructure requirements should they arise. And finally, no acquisition by eminent domain is authorized by the Urban Redevelopment Plan. In closing, Dura is very pleased to work with the city to bring forward this urban redevelopment plan for this important site. The one one Broadway Urban Redevelopment Plan captures many citywide goals, objectives and strategies that are found in the Denver Comprehensive Plan 2000 Blueprint Denver and the Baker Neighborhood Plan, which specifically recommends the historic First Avenue Hotel as a building along the South Broadway corridor that should be preserved and reused. And tonight, we ask for your favorable consideration on the ordinance approving this urban redevelopment plan. Thank you. Thank you. Excellent. As always, we have three speakers this evening David Zucker, Jesse Paris and Chairman Sekou to come to the front. Mr. Zucker, you're up first. You have 3 minutes. Thank you. Mr. President, members of City Council. I'm the applicant, and I'm only here if there are questions that I may be able to answer. All right. Thank you. All right, just. You have 3 minutes. Good evening, members of Council. My name is Jesse Perez. Somewhat black star action movement for Self Defense in Denver. Homeless Sellout. We are actually in favor of this. I just have a few questions. I want to know how many affordable units? What is the ammo percentage and how many people will be housed? And then just in case, where would where will the relocation be if there is displacement? And what is the timeline for this development? You. All right. Thank you. Chairman Sekou, you have 6 minutes. My name's Sherman, second lecturer, Action Movement for Self-defense, resident of the city of Denver for 67 years. One raised five points and we are honored to represent poor, working, poor senior citizens, youths and students. I'm neither for or against this thing, but have some questions about the historical context in which we're working on that has set this up as a historical designation. And what does that really represent in terms of history? One, the continuation of that history of 1901 to today. To see if there's been any fundamental changes in ideological and cold conducts of the character, of the people, of the resident, which are what this is all about. It's just like building we build new to. It was about the people who lived there. And who's going to enjoy the advantage of this as we go about reconstructing bustling city resources and giving developers pretty much free pass? Because it is obviously slanted for commercial development and benefit of developers and the rich. And the demographics of the demographics of the area has changed. Was not that exclusive of the neighborhood no more, you know, where it's not no longer a white only neighborhood which refused to allow black people to come into that hotel? I know that's a hidden thing nobody want to talk about. But then we look at the spirit of what has been happening. If the spirit has transformed the people and it's been an update because I refuse to support a white only white supremacy development. That's okay. But. Fitz. And I don't have a lot of facts. Present company included. Not included. But the history of this whole thing that. This represented here and given us the report. We know they have a history of lying and cannon and bullshit. We're not telling the truth. No. No, no, no cussing in the in the hearing. Oh, I'm sorry. I've got to stop from looking at the movie on my own. And they talk about Robert Redford. But anyway. Five 63.2 and excuse me for the interruption, but speaking truth to power in regards to semantics, that's what it is. So here we go. Question mark. Somebody could help him with this. Tell me, what is the median income of the area? How much money do people actually make? In order to afford this day and those that put it within the context of. Poor people. And do they fit into that? And as far as 60% of that, am I depending on how that is? Poor people can't get that kind of money. To be affordable in that. So now we've got class and interest needs to be considered because what are we really doing? Is this another scheme to build stuff to enhance middle class and upper middle class and forget the poor? And it is for the poor. How are they going to afford it? At 60%? Am I? I mean, talk to me, but perhaps someone could answer that question so I can lay that story to rest. So that it doesn't become. I unintended consequence because we refuse to look at it thoroughly. So let's see. I got 2 minutes. Oh, this is it. Here we go. Now, what's so important to this thing is how much money we're going to collect on this increment tax thing. We'll do it well. And basically, we're talking about $350,000 per year for 25 years. That's come to a total of approximately $7.8 million over 25 years. So you'd like more money in today's terms. But when we know the value of terms in the United States and the currency is continuing to fall, but now is worth a dollar , is worth $0.13 in real dollars was going to look at for five years. And what is that money going to do when we put a current value on the money that it ain't worth nothing? So then what? Do we do it now? So what we do with it now, we're going to get shown up cheaper dollars over a 25 year period. The dollar ain't never been worth a dollar in one sense. And now a form of dollars to $0.30 for real. Do you see what's happening here? So don't buy into the numbers. Look at the economic forecast and how that's working before you decide to sign off on this, because again, that becomes a question of being without being profane bull crap. How about that? So if we go. Left leg is in a lucky lapse of capitalist interests. Developers has to be checked, and the question becomes for poor people, when are you going to represent our interests primarily as opposed to class interests? And your voters. Who vote for you because you represent their class interests. And with no real clue. No class. Thank you. Thank you for your time. All right. This this concludes our comments from the speakers, questions by members of council. Councilman Ortega. Thank you, Mr. President. The first question for David Zucker, if you wouldn't mind coming back to the microphone. So can you clarify, is 106 the total number of units that are being constructed? That's two. Structures. That's correct. Okay. And so they will all be affordable. Yes. So by by receiving tax increment financing, do you also have to go through the chapel process to get low income tax credits? Well, the two aren't connected, but we are. So we've been awarded a an allocation of 4% credits in October. Okay. So you're doing studios in one bedrooms. What is the size of the one bedrooms? The one bedrooms are about 450 square feet. Okay. And will all of them have kitchens? Yes. Okay. Full kitchens. Okay. That's good to know. I have a question about the alley that runs between these two structures. Is that being vacated? No. So you're going to keep. That alley as an access to your parking. Yes. Okay. So so you're doing this as two separate buildings. Will they be connected over the the alley? The two buildings are connected on the same property. So there is a parking parcel that that Tracy Huggins mentioned with 28 parking spaces on the east side of that, the original First Avenue Hotel that had 151 units. Those there was an adjacent, approximately 6000 square foot parcel on that parcel will be building additional units. So the two buildings, new and historic, will be touching. They will be touching. Will they be connected? They will be connected. They will be connected. They will be touching. But the alley won't be vacated so they'll they'll be touching over the alley. No, they're touching adjacent to each other and east of the alley. So if you can imagine a typical Denver city block, that's that's 125 feet deep. The existing building takes up, let's just say 62 and a half feet of that. That east west block leaving, allowing room for a new building to be adjacent and connected to the old building. All of which is to the east of the alley. Okay. So as I'm looking at the. I think it's the third. I'm looking at Slide 11. It shows the big red line that has the entire property. And so I'm I'm having a hard time envisioning how you do the two buildings and have them touch and not not impact the access. Councilman Ortega on the of the can't see the screen is it possible to switch back to the to the. Yes, she can. She can. I think an easy way to ask that question is what are you doing with the the other parcel that is in the boundary but across the alley. So the. So if. Thank you. In the in the picture behind me. Right. The I'm looking at. The four story building is the historic building. To the to the as you're looking at it to the left of that is a new five story building that will be constructed on the photograph above. You'll see that what it currently occupies, what will be the adjacent building, was a non contributing, non historic building of two stories. That building has been demolished, allowing for the the new construction building to be built to the left or to the west of the alley is the the parking where 28 spaces of of public parking will occur. Okay. So I want to ask a cool about parking, so thank you for clarifying that. So 20 spaces total. 120 units. 820. 106 units. 306 units. 20 parking spaces. So how do you. Number one, get the financing if they're not all parked. And how do you know that you're going to attract folks that don't need cars? Well, this is as one of the most transit rich locations really a first and Broadway. The belly button of of of Denver. So there is better than 15 minute headway time during rush hour as it's 5 minutes between both Broadway and Lincoln. There's great bike infrastructure already in place just to the south of this. There's dedicated bike lanes on on Broadway, on the east side, and then a a ten minute walk. And I've made the walk a bunch of times myself to get to the to the Alameda train station, a light rail station. So this this is a population where if they're making $35,000 or so, not having to own a car, it really is significant significant to their their ability to have discretionary income. So as we see it and we have we operate other properties in downtown, not none of them today is 100% affordable as this is. But we know that as the price declines, so as we get smaller, one bedrooms and studio units, the propensity to own a car is less and less. So I'm raising these questions because some of us had an opportunity when we went to Seattle with the Downtown Denver Partnership to tour some of the micro units there. I was with you. The difference was they didn't have kitchens. They all had a shared kitchen. But what we learned from talking to residents was many of them came with their calves and they were challenged to figure out where to park their cars. And and I know that it's a chicken and an egg situation about, you know, if we build them with less units, will they not come with cars? Do your lenders finance even though you know you can't park all your units? I mean, there are some of those challenges. And I know for example, in Council President Brooks's district where along the Brighton Boulevard corner where we've seen a lot of new development that has gone in there and it's close to a TOD Station. You see cars parked all up and down Arkin's court on both sides of the road. And when that road gets vacated, I don't know where those people are going to park their cars. So, you know, on one hand, we need to have enough parking spaces for people coming into these units because it exacerbates the parking challenges in the neighborhood and it contributes obviously to the congestion as as we keep building, you know, more and more dense projects in in the city. So my question was just about how how you. Secure the financing. Does that does the lender require you to park more. Of the unit? That was a well-crafted question and good background. Let me, if I may, just to give fullness to the answer. As you may have picked up in the Seattle examples, and I toured one of those two of those with you. Both of them were more than 50% master leased to Amazon employees. The Amazon employees earn, as I found out, about $125,000. Those are people that have cars. There's also an inverse relationship, obviously, between those and you probably know this between those of higher incomes and their propensity to use mass transportation. There's a direct relationship between those of lesser incomes and the propensity to use transportation. So we're correlated in the right way if we're going to have fewer parking spaces. And then there's simply the virtue. What virtue do we want and do we want the virtue of affordable housing? And I'll answer your question directly by just these rhetorical questions as well. So what's the greater virtue? Is the greater virtue being able to deliver these affordable units, or is it to deliver more parking? Building a structure would have been truly prohibitively expensive, with parking spaces costing perhaps 50 or $60,000. And we analyzed that at length. So to us, the virtue wasn't building 60 apartments and 60 parking spaces. It was to build more affordable units and fewer parking spaces. Answer your question directly. Typically with with a lender, as long as we are delivering at the zoning minimum and the zoning minimum because of the historic structure and call it being grandfathered in for the existing residential, the requirement was only 12 parking spaces, so were almost twice as much. Okay. And David, just one last question. Can you tell us what the price point of the with the anticipated price point would be for the studios and then for also the one bedroom. Studios will be in the range of $945 and a one bedroom will be about 1025. So eligible to those that are earning in the range of 35 to $42000 annually. Thank you so much. Thank you. All right. Thank you, Councilman Espinosa. And I apologize because you're going to repeat the answers, but they're just brief. What was the target? Amazon target am i is 60% below. So and what did you say was going to the future of that? The adjacent the parcels to the east of I mean, to the west of the the alley. Again, the parcel is parking surface parking, including the old Buffalo Wild Wings place. So again, the the, the house with the wraparound commercial space that the prior owner had demolished that. Okay. I didn't realize until that picture that it was one of those Franken house things. Is the project contingent on other subsidies in order to achieve this affordability? It is. The Office of Economic Development has been great to work with and is delivering a loan that's committed at this point of four two and a half million dollars. So the combination of the tiff and that loan is sufficient to hit this, achieve the support in addition to the 4% tax credit, the historic state, the historic federal tax credit, as well as a state historic tax credit. So this is I think that there as well as a an owner carryback note in the about amount of about four and a half million dollars. So it's this is a layered financing. Yeah. And I'm not the infill that you're proposing is sort of consistent with how our downtown used to be where it and it had a even when we even well when cars were around so I'm not terribly concerned about that scale and the influx of cars because you're right, it. Is an area that. Is eminently walkable, bikeable transit options in abundance here. And there's grocery there, drugstore, drugstore across the street. There's entertainment all over that place. There's groceries about five blocks to the south. You know, it is a, you know, qualify easily for your subsidies and it will serve the population that you're you're targeting. So, yeah, I just. Thanks for the answers, though. Sure. As a as if if I may. And give one piece of information which which Councilman Ortega and Councilman Espinosa is a manifestation of the amount of demand where we we calculated that south of Colfax, north of I-25. Four blocks on either side. We projected perhaps 5000 individuals that could income qualify that currently work but but commute into the community now. So in addition the manifestation of the demand is that after only two weeks of a banner on the side of the building, we have 51. 52 I won't say income qualified, but income tested qualified residents on a waitlist. So there's a lot of demand. And it's gratifying to know that despite the fact that we're more than a year away, that residents are there. Ready. Yeah, I appreciate that that that additional information because that is I appreciate that this somehow being your business model because and I appreciate Tracy going through this process because as you know, if you took down the land in 2013. Correct, 15, 2015, there is a mention in this about 2013, the the the property value. This would be eminently developable. Would it be. It would is it's my opinion that this would be is in is is correct. It would be eminently developable as a market rate project. Correct? Yeah. Thanks for asking. That I think was actually December of 2016, the Zocalo and fortunately the the the family trust that that's acquired this with us. We could have been under construction and leased a long time ago had we not chose to do and had this investor and partner not made the the decision to have greater community impact and first bank our lender as well. This is not an easy project for any of us that are that are involved in this. Had it been a market rate project, we would have been doing a lot better financially and probably would have been under well under construction at this point. So the Zocalo finds that these if we can have affordability and deliver affordability in in our projects in River North were well we're one of the first projects that we'll voluntarily submit to affordability to get a an increase of height and we hope and Solon Lake to do a project that's 50% affordable 50% market rate so as we can we we do and for this community impact for these buildings that will be in the community for 100 years, it is important for us to continue that spirit of community impact. So it's been boarded since 2013 and that's really too long for such a prime corner. Thanks. All right. Thank you. Councilman Espinosa, I don't know if you heard about that increase of height over there, but. Okay, Councilman, new statement. I just want to thank you for your leadership and dedication in housing here in Denver, especially the affordable housing. You've been a real inspiration to all of us and a model for other developers for affordable housing. So I really appreciate and I know this project will be great. Thank you. Thank you. All right. Councilman, taking one last very quick question, David. Will you be able to take Section eight for anybody that might have a portable voucher? We'll be talking to the Denver Housing Authority. So I don't we haven't had a specific discussion about it, but that discussion, I'm sure, will be had. Okay. Thank you. Great. Okay. This concludes our questions and closes the public hearing. Four 563 Now comments by members of Council Council President Pro Tem. Thank you, Mr. President. This is a beautiful historic structure, a landmark in the community that has sat empty and has been falling apart. And here we have an opportunity to save the structure, to house people when we have a crisis for housing and housed them where they work. We talked earlier today with the Bike to Work and Bike Week this week about ways that we can ease congestion. And there is no easier way to do that than to provide opportunities for people to live where they work, especially on a corridor like Broadway. That is a major corridor for people who do not live anywhere close to where they work. This site is by rail. It's on the highest level of service, bus service that Denver has. The other day, when I flew back from the airport late, late at night, the trains had stopped running when I got to Union Station. But the zero line on Broadway had not. And that was how I got home. So this is our highest level of service bus. There is going to there is a protected bike lane on part of that, but funded by the voters in the bond, that protected bike lane will be a critical part of our infrastructure connecting to the Cherry Creek superhighway. For bikes, it is right by a grocery store and right by every amenity that you could possibly want to live by. And we need places for all of the people who work on this corridor to live and for all the people living in downtown or working in downtown to live. And this is it, 106 units, 60% am I workforce housing? And, you know, I think one of the other things to point out about the cars is this is the the the example that we talk about when we talk about two possible strategies is you have all of the transportation networks there. You have a parking plan in place. There is not a pool part of what sinks some of these projects, what we're experiencing near something like the country club towers that are adding hundreds of new people and have tons of parking. Nobody's using it because there's a sea of free parking there. There isn't. Here we have a parking plan in place that is permitted or metered. And so there's a perfect. Perfect example of all of the things that we talk about coming all together. And on top of that, it's within walking distance of our rainbow crosswalk, one of the most inclusive community now in Denver with that on the street. So I'm very excited about this. I want to thank you, Tracy, for all the work putting this together, your very thorough presentation and going through why this clearly qualifies for the program . And David, for for you and all your work in putting something like this together here, I think is a perfect example. I wish we could do this 20 more times tonight. I'd sit here till 4:00 in the morning if we can do that. So I'm very excited about it. Thank you for all the work and everything that's taken to put a project like this together, all the different pieces to make it really work. I would encourage all my colleagues to please vote yes on this. Thank you, Mr. President. Thank you, Councilman. The other confluence and our city of transportation and the river is such a beautiful place. Councilwoman Ortega. I just want to make a few brief comments. First, I want to thank Tracy and David for your efforts. We know that to do affordable housing, it takes multiple layers of financing. And thank you for walking through that with us so that we could understand the layers that this project entails. This is part of my old council district, District nine, in the Baker neighborhood, and I'm very familiar with the property. And yes, it has been a challenge property for a long time. And so I'm excited to see this particular use of it moving forward and it will absolutely meet a need in this city and for folks in the neighborhood, as you indicated. So I will be supporting this tonight and just thanks for your efforts. And I know you've done your homework with the Baker neighborhood as well, which is a very active community. So the fact that they're not here says a lot about the work you've done with them. So thank you, Mr. President. Thank you, Councilman Ortega. Hey, we're approving a tax increment area, and I think this needs to be said. States and cities are doing away with tax increment financing all over this country. And I think we're still using viable ways for social good and social impact to use TIFF. And I think that's incredibly important and so I'm really excited to see this come to fruition. I think the developer, Dave, would tell you without tax increment financing wouldn't have been possible. And so I'm glad we could use this tool effectively for our residents in the city of Denver. Seeing no other speakers. Madam Secretary, roll call. Clark. Hi. Espinosa. Hi, Flynn. Hi, Gilmore. Herndon. I can eat. Lopez. I knew Ortega. Sussman. I black. Mr. President, I. Clark. Sorry. No, wait. Let me start with you. These guys go to prison. All right. There we go. We got 11. All right. Madam Secretary, please close the voting, announce the results. 11 eyes. 11 eyes counts for five. Six three has passed council on Ortega. Will you please? Oh, I'm sorry. Congratulations. Councilman Ortega, will you please. But don't we have to do four, five, 64? Yes. Yeah. Will you please put. I thought we called it out.