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Denver committee delays decision on $4.5 million purchase of state‑owned site for affordable housing
Summary
The Finance & Business Committee postponed a vote on a proposed $4.5 million acquisition at 251 E. 12th Ave, a request to use $45 million in voter‑approved Vibrant Denver bond funds. Council members pressed administrators for clearer oversight, more council involvement and alternatives such as using city‑owned land or ground leases.
The Finance and Business Committee on April 14 postponed consideration of a Department of Finance request to acquire 251 East 12th Avenue in District 10 for $4,500,000, a purchase the administration proposed to fund from the voter‑approved Vibrant Denver bond.
Liah Mitchell, Director of Development and Catalytic Partnerships at the Department of Housing Stability, told the committee that Denver voters "overwhelmingly" approved Vibrant bond ballot measures and that the city is allocating $45,000,000 to support affordable housing projects, aiming to invest in "5 to 7 properties" to limit displacement. Lisa Lumley, Director of Real Estate, said the parcel is "just under an acre" (about 43,200 square feet) with a 91,470‑square‑foot building and that the purchase price would be $4,500,000.
The proposal drew sustained questions about process and oversight from several council members. Councilwoman Stacy Gilmore (District 11) pressed for clarity about who manages the bond funds day‑to‑day and for stronger legislative involvement in early project vetting; she moved to postpone the item to May 12 and the motion was seconded by Council pro tem Diana Romero Campbell. The chair notified the presenters the item will return to committee on May 12, after which it could go to mayor council and the full council if advanced.
Administration officials said they developed a project‑specific advisory and oversight flow for the Vibrant housing allocation. Mitchell described a multi‑stage vetting process that begins with the Department of Finance Real Estate office, moves to a housing advisory committee (including HOST, DEDO, Real Estate, the Mayor's Office and Community Planning & Development), then to a Vibrant Oversight & Leadership Team and executive sponsors. She said the process allows notification to the council president and the district member and that, "if council approve[s] this acquisition, then we would have 90 days to issue an RFP for housing partners." Lisa Lumley also said the administration generally prefers a ground lease model "90% of the time."
Council members raised other options they want explored before a purchase is approved, including whether city‑owned parcels could be used instead of buying new property and whether the city's bond executive committee should have a role in allocation decisions. Administration staff said some city parcels exist but that project timing and readiness varied and that the housing allocation required a dedicated advisory path.
The committee recorded the postponement without a roll call vote; the chair said the acquisition item will return May 12. The administration said, if moved forward later, the timeline would include Mayor Council on April 21 and City Council on April 27, and an RFP would be issued within 90 days of closing.
What happens next: the item will return to the Finance & Business Committee on May 12 for further briefing and possible action.
