The City and County of Denver approved a resolution to issue up to $23,000,000 in Multifamily Housing Revenue Bonds for the Loretto Heights Family Apartments project. This project, developed by Mercy Housing Mountain Plains, is an affordable housing apartment building located in Council District 2. The resolution indicates the city's intention to finance the acquisition, construction, and equipping of approximately 100 affordable housing units. The bonds will be special, limited obligations of the City, payable solely from revenues derived from and payable by the developer. The City's commitment to issue the bonds is contingent upon several conditions, including the developer securing a commitment for bond purchase, obtaining all necessary approvals, and city approval of the project's design. The City also awarded $23,000,000, not to exceed 55% of the eligible aggregate basis, of its private activity bond volume cap allocation to the project. The allocation will expire one year from the resolution date, with a possibility of extension by the Chief Financial Officer or Chief Housing Officer.