For an ordinance approving a DDDA Development Project Funding Agreement (Denver Pavilions located at 500 16th Street, Denver, Colorado) between the City and County of Denver and the Denver Downtown Development Authority, in Council District 10 (FINAN-202581850).

Summary

This ordinance approves a Development Project Funding Agreement between the City and County of Denver and the Denver Downtown Development Authority (DDDA) for the acquisition of the Denver Pavilions located at 500 16th Street. The City will advance up to $45,000,000 from anticipated DDDA Loans (which are repaid by Tax Increment Financing) to the DDDA to fund the property acquisition, closing costs, and related expenses. This agreement is contingent upon the City Council approving the inclusion of the Pavilions into the DDDA boundaries and the closing of the DDDA Loans by December 19, 2025.

Citizen Impact

This agreement facilitates the acquisition of the Denver Pavilions by the DDDA, funded by future tax increment financing, with potential implications for future development and use of the property.

Confidence

high