For an ordinance approving a DDDA Development Project Funding Agreement (Brookfield Lots located at 1505 Glenarm Place and 1518 Glenarm Place, Denver, Colorado) between the City and County of Denver and the Denver Downtown Development Authority, in Council District 10 (FINAN-202581753).

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 Brookfield Surface Parking Lots located at 1505 Glenarm Place and 1518 Glenarm Place. The City will advance up to $23,000,000 from anticipated DDDA Loans to fund the property acquisition and related closing costs. This funding is contingent upon the City Council approving a separate loan ordinance and the closing of DDDA Loans by December 19, 2025.

Citizen Impact

This agreement facilitates the acquisition of two parking lots in Council District 10, funded by future tax increment financing, which may impact future development and parking availability in the area.

Confidence

high