Approves a loan agreement with Milk Tea People, Inc. for $640,000.00 with an end date of 11-30-2035 utilizing Downtown Denver Development Authority Tax Increment Financing, in Council District 10 (OEDEV-202582085).

Summary

The City Council is set to approve a loan agreement for $640,000.00 with Milk Tea People, Inc. This funding will utilize Downtown Denver Development Authority (DDDA) Tax Increment Financing and is designated for the company's expansion to a larger location at 1485 16th Street. The loan has an end date of November 30, 2035, and the project was approved by the DDDA Board on July 30, 2025. This initiative is part of the DDDA's broader development plan and falls within Council District 10.

Citizen Impact

This action will support a local business expansion, potentially creating jobs and enhancing the commercial offerings on 16th Street.

Confidence

high