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File #: 21-0515    Version: 1
Type: Bill Status: Passed
File created: 4/26/2021 In control: Land Use, Transportation & Infrastructure Committee
On agenda: 5/24/2021 Final action: 5/24/2021
Title: A bill for an ordinance approving a proposed Denargo Market Development Agreement by and among the City and County of Denver, JV Denargo LLC and Denargo Market Metropolitan District No. 1 for the development of approximately 12.97 acres at 2650 Arkins Court, 3205 and 3280 Denargo Street and 2700 Wewatta Way. Approves a development agreement with JV Denargo LLC, and Denargo Market Metropolitan District No. 1 establishing infrastructure construction and maintenance responsibilities, affordable housing commitments, and vested property rights for the Denargo Market development at 2650 Arkins Court, 3205 & 3280 Denargo Street, and 2700 Wewatta Way in Council District 9. The Committee approved filing this item at its meeting on 5-4-21.
Indexes: Zach Rothmier
Attachments: 1. BR21 0515 CPD Denargo_DA, 2. 21-0515 Filed Bill_JVDenargo_202158583-00, 3. 21-0515 DevelopAgr_JVDenargo_202158583-00, 4. 21-0515 Filed Bill_JVDenargo, 5. 21-0515 - signed, 6. 21-0515 For an ordinance approving a proposed Denargo Market Development

Contract Request Template (Contracts; IGAs; Leases)

 

Date Submitted: 4-26-21

 

Requesting Agency: Community Planning and Development

                               Division:

 

Subject Matter Expert Name:

Name: Scott Robinson                                         

Email: scott.robinson@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 bill for an ordinance approving a proposed Denargo Market Development Agreement by and among the City and County of Denver, JV Denargo LLC and Denargo Market Metropolitan District No. 1 for the development of approximately 12.97 acres at 2650 Arkins Court, 3205 and 3280 Denargo Street and 2700 Wewatta Way.

Approves a development agreement with JV Denargo LLC, and Denargo Market Metropolitan District No. 1 establishing infrastructure construction and maintenance responsibilities, affordable housing commitments, and vested property rights for the Denargo Market development at 2650 Arkins Court, 3205 & 3280 Denargo Street, and 2700 Wewatta Way in Council District 9. The Committee approved filing this item at its meeting on 5-4-21.                                  

body

 

Affected Council District(s) or citywide?

 

Contract Control Number:

 

Vendor/Contractor Name (including any “DBA Council District 9”):

 

Type and Scope of services to be performed:

This development agreement has been negotiated concurrent with the proposed rezoning of the Denargo Market area (Bill No. 21-0083). The development agreement covers construction, maintenance, and funding responsibilities for public amenities called for in the Amended and Restated Denargo Market GDP, including establishment of rights-of-way and open spaces, along with voluntary affordable housing commitments from the applicant and vested property rights among other things.

 

The affordable housing commitments include that a minimum of 15% of residential units will be income-restricted units (IRUs) for a covenant length of 60 years.  Rental IRUs will be restricted at up to 80% of the Area Median Income (AMI), with at least 25% of those IRUs further restricted to 60% AMI.  For sale IRUs will be restricted to 100% AMI, with at least 30% of those IRUs further restricted to 80% AMI.  The southeasterly parcel will be developed as an entirely affordable project at 60% AMI, with a minimum of 40 units built on the parcel. The number and mix of bedroom count will match the market rate units, with at least 30% of IRUs being 2 bedrooms or larger.  This agreement will replace the affordable housing plan put in place in 2008, which is based on the former inclusionary housing ordinance and requires 10% of for-sale units to be “Moderately-Priced Dwelling Units” with no requirement for affordable rental units.

 

The agreement establishes a vesting period of 10 years for certain aspects of the proposed zone districts, including heights, setbacks, and uses, and for open space requirements. 

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.)