On Wednesday, January 4 at 10:30 am, LWVD Observer Corps members observed the Denver City Council Safety and Housing Committee meeting for its weekly meeting to review a loan agreement with 38th and Holly LLLP for $8,319,000 to develop affordable multi-family housing with 253 units, located at 5908 and 5909 East 38th Avenue in Council District 8.
Some of the units will be reserved for individuals below 50% and 35% of AMI. This is one of the largest contracts written by the Denver Department of Housing Security (HOST) for construction of affordable housing. Committee members asked questions of HOST staff including whether the contract provides for adequate maintenance of the building and whether there we or more “navigators” available to the assist, particularly low-income residents. Another concern was whether the loan payments made under the contract will go to the Affordable Housing Fund or the City General Fund. The loan agreement goes now to the Denver City Council for final approval.
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