Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 9-11-2023
Requesting Agency: Housing Stability
Division:
Subject Matter Expert Name: Megan Yonke
Email Address: megan.yonke@denvergov.org <mailto:megan.yonke@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 bill for an ordinance approving a proposed Funding Agreement between the City and County of Denver and the Housing Authority of the City and County of Denver, Colorado, for acquisition costs of a 194-unit hotel known as Best Western located at 4595 Quebec Street, Denver, Colorado, in Council District 8, which will be operated as non-congregate shelter until it is converted to supportive housing.
Approves a funding agreement to the Housing Authority of the City and County of Denver, Colorado for $15,700,000 and ending 9-30-2122 to finance the bridge financing on a 194-unit hotel known as Best Western to be operated as non-congregate shelter until it is converted to supportive housing to be rented at affordable prices, in Council District 8 (HOST-202369738). The last regularly scheduled Council meeting within the 30-day review period is on 10-16-2023. The Committee approved filing this item at its meeting on 9-13-2023.
body
Affected Council District(s) or citywide?
Council District 8
Contract Control Number:
HOST-202369738
Vendor/Contractor Name (including any “DBA”):
Housing Authority of the City and County of Denver, Colorado
Type and Scope of services to be performed:
The Grantee will be required to house people experiencing homelessness as shown in the following table. The rental and occupancy restrictions detailed below will be secured by a Covenant that will be recorded against the property and will run with the land for 99 years. Grantee shall incorporate these restrictions into its D3 covenant and such covenant will run with the land for no less than 99 years. The D3 covenant will be subordinate only to the bridge lender deed of
trust and shall be recorded at closing, prior to or concurrent with disbursement.
Location (if applicable):
4595 Quebec Street, Denver CO 80022
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?
Competitive process
For New contracts
Term of initial contract:
10/01/2023-9/30/2122
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:
$15,700,000
Cost of any renewals:
Total contract value council is approving if all renewals exercised:
For Amendments/Renewals Extensions:
Is this a change to ost/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.)