Contract Request Template (Contracts; IGAs; Leases)
Date Submitted: 1-17-2023
Requesting Agency: Department of Housing Stability
Division:
Subject Matter Expert Name: Adam Lyons
Email Address: Adam.Lyons@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 resolution approving a proposed Loan Agreement between the City and County of Denver and Habitat for Humanity of Metro Denver, Inc. to build six affordable homeownership units and up to three accessory dwelling units in the Villa Park neighborhood, located in Council District 3.
Approves a loan agreement with Habitat for Humanity of Metro Denver, Inc. for $575,000 and through 12-31-2027 to build six affordable homeownership units and up to three accessory dwelling units in the Villa Park neighborhood, located in Council District 3 (HOST-202265752). The last regularly scheduled Council meeting within the 30-day review period is on 3-6-2023. The Committee approved filing this item at its meeting on 1-25-2023.
body
Affected Council District(s) or citywide? 3
Contract Control Number: HOST-202265752
Vendor/Contractor Name (including any “DBA”): Habitat for Humanity of Metro Denver, Inc.
Type and Scope of services to be performed:
Habitat for Humanity Metro Denver requests $575,000 in order to build six (6) affordable homeownership units in the Villa Park neighborhood. The land has been donated for $50 from the City and County of Denver. In addition to the houses, Habitat for Humanity will construct up to 3 Accessory Dwelling Units (ADUs). These units will either be used by the homeowner privately or rented out to affordable renters. The ADUs are not included in the unit count as they are not guaranteed to be rented to income-qualified tenants. The City of Denver loan will be a five-year performance loan and a 90-year covenant will be recorded on each site. We have agreed to fund these units over the term sheet maximum due to the very large bedroom sizes being built and increasing construction costs across the board. As part of the funding stack, Habitat is receiving $736,139 in an Innovative Housing Incentives Grant Program (IHOI) grant to assist with some extensive infrastructure work that will occur on this site.
Scope of work:
Six income-restricted units are to be constructed and sold at prices affordable to qualifying households. Habitat will be required to sell the units to people at or below 80% AMI as detailed in the table below. The sale and occupancy restrictions have been secured by a covenant (90 years) that was recorded on the property when the land was sold to Habitat.
|
Unit Type |
Number of Units |
Approx. Sq. Ft. of Units |
|
2 Bedroom |
1 |
576 sq. ft. |
|
3 Bedroom |
1 |
860 sq. ft |
|
4 Bedroom |
1 |
1300 sq. ft. |
|
4 Bedroom w/ ADU |
3 |
1900 sq. ft. |
Location (if applicable): 1049 Stuart Street, 1066 Newton Street, 1076 Meade Street, 1077 Meade Street, and 1080 Meade Street
WBE/MBE/DBE goals that were applied, if applicable (construction, design, Airport concession contracts): N/A
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?
N/A
For New contracts
Term of initial contract:
12/31/2022-12/31/2027
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:
$575,000
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.)