Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 9/6/16
Requesting Agency: OED
Division:
§ Subject Matter Expert Name:
Name: Susan Liehe
§ Phone: 720-913-1689
§ Email: susan.liehe@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 Loan Agreement between the City and County of Denver and CD-INCA LLC to finance for the acquisition of land for future mixed income housing located at 4001 Inca Street.
Approves an agreement with CD-INCA, LLC in the amount of $2 million from Community Development Block Grant funds and $1 million from the OED Affordable Housing Fund (General Fund) for five years with the loan being structured as a repayable loan to assist in the financing for the land purchase for future mixed income housing located at 4001 Inca Street in the Sunnyside neighborhood in Council District 1 (OEDEV-201630376-00). The last regularly scheduled Council meeting within the 30-day review period is on 10-24-16. The Committee approved filing this resolution at its meeting on 9-14-16.
body
Affected Council District(s) or citywide? 1
Contract Control Number: OEDEV-201630376-00
Vendor/Contractor Name (including any “DBA”):
CD-Inca, LLC.
Type and Scope of services to be performed:
Loan
Location (if applicable):
4001 Inca Street
WBE/MBE/DBE goals that were applied, if applicable (construction, design, Airport concession contracts):
NA
Are WBE/MBE/DBE goals met (if applicable)?
NA
Is the contract new/a renewal/extension or amendment?
New
Was this contractor selected by competitive process or sole source?
NA
For New contracts
Term of initial contract:
Loan for $2,000,000 in CDBG funds (U.S. Department of Housing & Urban Development) and $1,000,000 in OED Affordable Housing Fund (General Fund) for five years and structured as a repayable loan to assist in the financing for the land purchase for future mixed income housing located at 4001 Inca Street in the Sunnyside neighborhood.
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:
$3,000,000
Cost of any renewals:
Total contract value council is approving if all renewals exercised:
$3,000,000
For Amendments/Renewals Extensions:
Is this a change to cost/pricing; length of term; terms unrelated to time or price (List all that apply)?
NA
If length changing
What was the length of the term of the original contract?
NA
What is the length of the extension/renewal?
NA
What is the revised total term of the contract?
NA
If cost changing
What was the original value of the entire contract prior to this proposed change?
NA
What is the value of the proposed change?
NA
What is the new/revised total value including change?
NA
If terms changing
Describe the change and the reason for it (i.e. compliance with state law, different way of doing business etc.) NA