Welcome back to this weekly meeting of the Community Planning and Housing Committee with Denver City Council.

Your community planning and housing committee starts now.

All right, good afternoon.

Oh, I'm not wearing my reading glasses.

Good afternoon, everyone.

It is Tuesday, August 11th.

This is the Housing and Homelessness Committee of Denver City Council.

I'm Amanda Sawyer.

I have the honor of representing the residents of District 5, and I'm the vice chair of this committee, and I'll be chairing today.

So watch out, world.

Before we get started, we uh will do council member introductions, and I will start with Zoom first.

Hello, Councilwoman Flora Vidas.

District 7.

Fantastic.

And then I'm gonna let you two fight it out for who goes first.

Jamie Torres West Denver District match.

I'm gonna bring it in.

Uh Diana Romero Campbell, Southeast Denver District 4.

Fantastic.

Um we have one action item today.

So if you guys want to introduce yourselves and take it away.

Amazing.

Um I'm Cole Chandler, Executive Director of the Department of Housing Stability.

I'm Aaron Clark.

I'm the Chief Real Estate Investment Officer with the Denver Housing Authority.

All right.

Well, Aaron is gonna be the star of the show today.

Uh thanks to the many of you who took briefings on this topic.

We appreciate the opportunity to talk with you about that and uh improve the presentation and uh the amendment that we're bringing forward.

So this uh project has been underway for a really long time since back in 2018.

Um and Aaron's gonna provide a background and overview, the history of it, as well as talk about what we've learned through this and what we were able to deliver through uh the DHA delivers uh for Denver intergovernmental agreement.

And so with that, um I will turn it over to Aaron to provide an update on that as well as the amendments that we're preparing to bring forward through council.

Thank you so much.

Thank you, Cole.

It's been uh really good to work with you on this.

Um this is really a number of years in the making for us to be in front of you today.

Um, when I joined DHA in 2022, I was really excited to get to know this program DHA Delivers for Denver.

I think it's a really quite an impressive um really thoughtful approach to intergovernmental partnerships, um, really leveraging some of the best tools of the city with the best tools of the housing authority and looking at how we can work together to move things forward uh faster to create more affordable housing and deeper affordability.

Um DHA Delivers for Denver or D3, which we know can be, especially with Jamie Torres here and you are D3.

Um, but we um this program really it's it's one big pilot program that's broken up into two distinct sections, and so you'll hear me throughout this presentation talk about D3 Direct and D3 Permanent Support of Housing or D3 Land Banking.

So nice to see you, Councilman Cashman.

Um wanted to start out the first slide here is mapping those two subsets of this program.

Um so you'll see that on the left are our D3 Direct um locations.

So those are the where it was DHA's existing pipeline that we agreed for additional funding to support from the city to move those projects forward, and so you'll see um a lot of those.

Seven of those ten projects are uh in the Sun Valley neighborhood.

Um we also have 655 Broadway, um, Studebaker Lofts, and 32nd and Shoshone.

So those are our 10 D3 Direct projects, and then on the permanent supportive housing side, uh DHA acquired 11 properties across six different council districts throughout the city.

Um so you'll see that we have more geographic distribution with respect to that land making um part of the program, and we'll dive more into those particular projects and as we go forward in the present in the throughout the presentation.

Um just to start with some history that a number of you were directly a part of, and and others of you joined uh later on as we've been working through through the D3 program.

But our original premise was simply that affordable housing need was immediate.

Um it remains immediate today.

We and we know that.

Um but the idea that DHA could rapidly produce more affordable housing and being able to leverage the city's forethought in terms of creating the affordable housing fund um to put money dollars directly into projects.

So using property tax allocations to repay debt the city joint forces with DHA so that we could use our revenue bond issuing capacity backed by the city's affordable housing fund to we ended up with 129.81 million dollars in net bond revenues to put towards this with just over 50 percent of those dollars being for the land baking side of the program and just under 50 percent of those funds being used for the D3 direct kind of filling capital stacks for for uh direct developments by DHA.

So in uh going to the timeline at the bottom of this slide, we started with um of course the city creating that affordable housing fund in 2016, moved on to in 2018 um the city adopting a housing plan, and that is also when we um executed the intergovernmental agreement between our two organizations.

In 2019, DHA issued those revenue bonds, and um then we were off to the races.

So between 2020 and 2023, we um through we looked for strategic acquisitions, and we did complete 11 different property acquisitions in that few year period.

Um of those were us going out to find um vacant land opportunities, others were opportunities brought to us.

Um for example, fusion studios with uh Colorado Coalition for the Homeless on Quebec the old airport area that was um something where that was an opportunity that they brought to us to then that fit within the IGA and within the the goals of the D3 program, and we did acquire that property for CCH to then be the owner and operator of that facility.

Um in 2021, when I was prior to being at DHA, I was selling property to DHA when I was at Urban Land Conservancy when we um partnered on the Mosaic Community Campus.