Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 6-15-20
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Kiki Turner |
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Email: Kiki.Turner@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 Equipment Lease Purchase Agreement between the City and County of Denver and JPMorgan Chase Bank N.A., to authorize the Manager of Finance to enter into a capital lease purchase transaction, on behalf of the Department of Safety to be used by Denver Fire Department, to lease purchase fire apparatus vehicles.
Approves a capital lease purchase agreement with JPMorgan Chase Bank, N.A. for $3,752,476.81 and for seven years for the financing of four fire truck apparatus vehicles, including one Pierce Velocity Ascendant Ladder Truck Apparatus, one Pierce Velocity Rescue Apparatus Truck and two Pierce Velocity Pumper Trucks to support Denver Fire Department operations, citywide (FINAN-202055028). The last regularly scheduled Council meeting within the 30-day review period is on 8-3-20. The Committee approved filing this item at its meeting on 6-23-20.
body
Affected Council District(s) or citywide? Citywide
Contract Control Number: FINAN-202055028
Vendor/Contractor Name (including any “DBA”): JPMorgan Chase Bank, N.A.
Type and Scope of services to be performed:
This resolution seeks approval to lease purchase four fire truck apparatus vehicles (“Equipment”) on behalf of Department of Safety to be used by Denver Fire Department (“DFD”). The Equipment will be used to replace existing fleet that has reached the end of its useful life (originally approved as a cash purchase in the City’s 2020 Budget which was adopted in November 2019). (see request form)
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?
Competitive process
For New contracts
Term of initial contract: 7 years
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: $3,752,476.81
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.)