The city is amending a loan agreement with Iliff Senior Apartments LLLP to update the legal description for the property at 4770 E. Iliff Ave. This amendment facilitates the construction of a 50-unit affordable senior housing project, for which the city has provided a $2,250,000 cash flow loan. The project involves a new four-story, all-electric building with 44 one-bedroom and 6 two-bedroom units. The apartments are designated for residents aged 62 and older, with incomes ranging from 30% to 80% of the Area Median Income (AMI). This amendment does not alter the original loan amount or its terms. The development is situated on a 1.12-acre infill site and is designed as a transit-oriented development.