Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 7-10-2023
Requesting Agency: Dept of Housing Stability
Division:
Subject Matter Expert Name: Alex Marqusee
Email Address: Alexander.Marqusee@denvergov.org <mailto:Alexander.Marqusee@denvergov.org>
Phone Number:
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red “title” and “body” below. Do not at any time delete the red “title” or “body” markers from this template.
title
A resolution approving a proposed Loan Agreement between the City and County of Denver and The St. Francis Center to support the development of 59-units of supportive housing for households experiencing or at the risk of experiencing homelessness, located at 221 Federal Boulevard in Council District 3.
Approves a loan agreement with The St. Francis Center for $2,700,000 and 60 years to support the development of 59-units of supportive housing for older adults experiencing or at the risk of experiencing homelessness, with one on-site manager unit, located at 221 Federal Boulevard in Council District 3 (HOST-202368730). The last regularly scheduled Council meeting within the 30-day review period is on 8-28-2023. The Committee approved filing this item at its meeting on 7-12-2023.
body
Affected Council District(s) or citywide?
Council District 3
Contract Control Number:
HOST-202368730
Vendor/Contractor Name (including any “DBA”):
The St. Francis Center
Type and Scope of services to be performed:
The proposed development is an apartment complex planned for a 0.614-acre site on the west side of Federal Boulevard across from its junction with West 2nd Avenue in the City and County of Denver, Colorado. The supportive housing development at this site is anticipated to include approximately 60 affordable multifamily units and be targeted for homeless seniors. The subject property is planned to include 51 one-bedroom/one-bath units and 9 two-bedroom/one-bath units. The development will be certified under the National Green Building Standard (NGBS) program. Prescriptive energy efficiency measures will include high performing insulation and windows, as well as Energy Star rated lighting and appliances. Advanced water conservation fixtures, and beyond-ADA design will ensure the project’s sustainability over the long term. The apartments will be cooled via packaged terminal air conditioner (PTAC) system and heated by electric baseboard heaters. Apartments will include a refrigerator, stove/oven, garbage disposal, microwave oven and two-bedroom units will include a washer and dryer.
Location (if applicable):
2323 Curtis Street Denver, CO 80205
WBE/MBE/DBE goals that were applied, if applicable (construction, design, Airport concession contracts):
N/A
Are WBE/MBE/DBE goals met (if applicable)?
N/A
Is the contract new/a renewal/extension or amendment?
New
Was this contractor selected by competitive process or sole source?
N/A
For New contracts
Term of initial contract:
The loan will mature and be due and payable on the sixtieth (60th) anniversary of the date of the promissory note (the “maturity date”), if not sooner paid. Repayment shall be forgiven by the City on the maturity date so long as the borrower is in compliance with all terms and conditions of this loan agreement and the covenant.
Options for Renewal:
How many renewals (i.e. up to 2 renewals)?
Term of any renewals (i.e. 1 year each):
Cost of initial contract term:
$2,700,000
Cost of any renewals:
Total contract value council is approving if all renewals exercised:
For Amendments/Renewals Extensions:
Is this a change to cost/pricing; length of term; terms unrelated to time or price (List all that apply)?
If length changing
What was the length of the term of the original contract?
What is the length of the extension/renewal?
What is the revised total term of the contract?
If cost changing
What was the original value of the entire contract prior to this proposed change?
What is the value of the proposed change?
What is the new/revised total value including change?
If terms changing
Describe the change and the reason for it (i.e. compliance with state law, different way of doing business etc.)