Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 05-30-17
Requesting Agency: Office of Economic Development
Division:
§ 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 Amendment and Modification Agreement between the City and County of Denver and The Housing Authority of the City and County of Denver, authorizing the release of 6,000 square feet of real property from the City’s Deed of Trust.
Amends a loan agreement with the Denver Housing Authority (DHA) to enable a lot adjustment that releases 6,000 square feet from the Deed of Trust to enable DHA to build a new headquarters and required parking, in exchange for early repayment of the loan, located at 1095 Osage Street in Council District 3 (OEDEV-201100871). The last regularly scheduled Council meeting within the 30-day review period is on 7-17-17. The Committee approved filing this resolution at its meeting on 7-7-17.
body
Affected Council District(s) or citywide? Council District 3
Contract Control Number: OEDEV-201100871
Vendor/Contractor Name (including any “DBA”): Denver Housing Authority (DHA)
Type and Scope of services to be performed:
Amends a loan agreement between the Denver Office of Economic Development and the Housing Authority of the City and County of Denver for $1,500,000 in Skyline funds and $1,500,000 in CDBG funds to enable a lot adjustment that releases 6,000 square feet from the Deed of Trust that secures the CDBG loan, enables City signature on related documents, also enables the release of Deeds of Trust on other properties in Denver that secure the Skyline loan, both in exchange for early repayment of that loan.
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.)
Amends contract #OEDEV-201100871 with the Housing Authority of the City and County of Denver to enable a lot adjustment that releases 6,000 square feet from the Deed of Trust that secures the CDBG loan. The existing loans financed the construction of a 100-unit senior housing facility (the Tapiz Apartments) at 1099 Osage, plus construction of a non-profit community facility. At Tapiz, 51% of the units are required to have Section 8 rents until July 2031.
At this time, DHA plans to build its headquarters at 1095 Osage, the site adjacent and to the south of Tapiz. The headquarters design requires an additional 6,000 sf to accommodate the building and its required parking. Therefore, DHA requests this adjustment to facilitate the new development. On the 6,000 sf to be released at Tapiz, there is currently a community garden that has been relocated across Osage to the Mariposa development, plus 12 parking spaces that will be relocated and dedicated in the headquarters parking structure. The lot amendment will not have a material impact on the City’s security interest in the Tapiz Apartments, which is guaranteed by an assignment of rents in that building. The amendment also allows City signature on related documents that respond to Community Planning and Development requirements for the development.
The amendment also allows release of Deeds of Trust at 4301 Elizabeth, 2400 Stout, and 1373 Lipan, which secure the Skyline loan, in exchange for early repayment of that loan, $1,000,000 of which is due in 2020 and $500,000 of which is due in 2030.