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Title:
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ORD Amend the City’s FY 22-23 Budget By Approp $12,335,677.55 to Reflect the Elimination of Anticipated Loan Repayment Revenue to the DIA & the Budgeted Repayment from DIA to the Self-Insurance Fund & to Reduce Corresponding Expense Budgets To Reflect the Loan Extension Auth Herein; Auth & Apv a 3rd Mortgage Modification Agrmt btwn the City & VCP-Lynch Building, LTD. & a 3rd Note Modification Agrmt btwn the City & VCP-Lynch Building, LTD., for the Purpose of: (1) Extending the Maturity Date of the Loan from 6/30/23 to 3/1/26; & (2) Commencing 7/1/23, Increasing the Loan Interest Rate from 1.525% to 3% for the Remaining Loan Term; The Original Loan Having Been Auth by Ord 2000-1079-E; Requiring an Acknowledgement & Consent of Guarantor by the Vestcor Companies, Inc. for the Foregoing Loan Modification Agrmts as a Condition of Closing, Together with Such Other Closing Docs & Technical Changes as May Be Required by the General Counsel, or His Designee, ...
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