Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 12-27-21
Requesting Agency: Department of Housing Stability
Division:
Subject Matter Expert Name:
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Name: Derek Woodbury |
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Email: derek.woodbury@denvergov.org |
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 Second Amendment and Modification Agreement between the City and County of Denver and 101 Apartment Developers, LLC to amend and modify the Loan Agreement to revise and correct the description of the collateral.
Amends a loan agreement with 101 Apartment Developers, LLC by updating the legal description contained in the loan document to match the Planned Community Declaration recorded on the site at 101 Broadway in Council District 7 for a 102-unit project affordable to tenants at or below 60% area median income. No change to agreement amount or duration (OEDEV - 201952558).The last regularly scheduled Council meeting within the 30-day review period is on 2-7-22. The Committee approved filing this item at its meeting on 1-5-22.
body
Affected Council District(s) or citywide? Council District 7
Contract Control Number: OEDEV - 201952558
Vendor/Contractor Name (including any “DBA”): 101 Apartment Developers LLC
Type and Scope of services to be performed:
Executive Summary
1. Change the legal description of our loan security as it is described in our loan documents.
• The existing legal description contained in our loan documents is shown below:
• The new legal description that our loan documents will be updated with is shown below:
Location (if applicable):
WBE/MBE/DBE goals that were applied, if applicable (construction, design, Airport concession contracts):
Are WBE/MBE/DBE goals met (if applicable)?
Is the contract new/a renewal/extension or amendment?
Was this contractor selected by competitive process or sole source?
For New contracts
Term of initial contract:
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:
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.)