Commerce City - File #: Res 2013-85

• File #: Res 2013-85
• Version: 1
• Name: Resolution 2013-85 Buffalo Highlands Loan Modification
• Type: Resolution
• Status: Passed
• File created: 12/9/2013
• In control: City Council
• On agenda: 12/16/2013
• Final action: 12/16/2013
• Title: RESOLUTION MODIFYING LOAN AGREEMENT BETWEEN CITY OF COMMERCE CITY AND BUFFALO HIGHLANDS METROPOLITAN DISTRICT WITH RESPECT TO 96TH AVENUE CONSTRUCTION

Date	Ver.	Action By	Action	Result
12/16/2013	1	City Council	adopted	Pass

Title

RESOLUTION MODIFYING LOAN AGREEMENT BETWEEN CITY OF COMMERCE CITY AND BUFFALO HIGHLANDS METROPOLITAN DISTRICT WITH RESPECT TO 96^TH AVENUE CONSTRUCTION

Body

Summary and Background Information:  Due to higher than anticipated costs for road and bridge construction, the existing loan agreement for construction of 96^th Avenue must be increased by $680,000 to $6,130,000.

Staff Responsible (Department Head):  Maria D'Andrea, Director of Public Works

Staff Member Presenting:   Maria D'Andrea, Director of Public Works

Financial Impact:  $680,000

Funding Source:  General Fund

Staff Recommendation:  Approval of the resolution.

Suggested Motion:  I move to approve resolution #2013-85.