A resolution was approved to amend the Loan Agreement between the City and County of Denver and Kappa Tower II LLLP. The amendment allows for the partial release of a vacant parcel of the Kappa Tower II property. This parcel is intended for the future development of Kappa Tower III, a second senior affordable housing rental project. The original Kappa Tower II project, located at 9020 East Northfield Boulevard, was funded with $700,000 using Affordable Housing Permanent Funds and provides 70 affordable housing units with various AMI limitations for 60 years. The amendment is necessary because the initial loan documents did not account for the planned future development of Kappa Tower III, and it will update the legal description of the Kappa Tower II project. Kappa Tower III is projected to add 30 senior affordable housing units and is funded with $1,050,000 from the Linkage Fee Fund.