HomeMy WebLinkAboutbocc.con.061.1982 ;:;::, � .
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-� AGREEMENT FOR SERVICES
CA 61(82)
THIS AGREEMENT, made and entered into this Z�TH � day of September,
1982, by and between the BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY,
COLORADO (hereinafter referred to as the "County"), and M. ROLLE WALKER,
of Colorado Springs, Colorado, as General Partner of COMMITNITY DEVELOPMENT .�
4. ASSOCIATES, also of Colorado Springs, Colorado (hereinafter referred to as
"Walker"), is upon the following terms and conditions:
WITNESSETH: F ..
WHEREAS, the County desires to acquire the services af Walker as
a consultant, and
� WHEREAS, Walker desires to provide said consulting services,
� �
NOW, THEREFORE, in consideration of the mutual promises, convenants, � '
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and:conditions contained herein, the parties agree as follows: ��j
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1. Consulting Services. Walker agrees to provide, and the County
.` agrees to accept, the services of Walker to the County as consultant. ;�.
a. Said services shall be with regard to a review and reco�nendation '
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ti'� of alternative development proposals for the Silverking Phase IV project. The ��'
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y' nature of the review and report to the County shall be as more specifically y;��
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set forth in the Request for Proposals dated August 16, 1982. The Request S�
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` for Proposals outlines the objectives of the County and the specific time table ��;
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for selection. The Request for Proposals is attached hereto and incorporated here- �:?.
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` in by this reference. '"�
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�: b. Additional services shall include the review of costs previously j_ '
incurred by Jay Kuhne for the Silverking Parcels Phase IV and E. This review ��` "
�.
is specifically set forth in Paragraph 2 Section d of the County's Agreement
with Jay Kuhne dated July 20th, 1982 and the Addendum to that Agreement dated
Suly 30, 1982. Soth said Agreements are attached hereto and incorporated here --
in 6y this reference. -
2. Independent Contractor. It is agreed that Idalker is acting as
an independent contractor to the County, and not as employee or agent. In this
capacity, Walker �grees that he will not personally, or through his direct
business associates, be involved in any way with the future development of
the Silverking Phase IV Project, and that he will not participate or compete
for the right to act as underwriter with relationship to any subsequent financial
arrangement for the Silverking Phase IV Project.
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3. Compensation. The County shail pay Wa2ker, as consideration for his
services, for the expenditure of his time and materials. Walker shall charge the '
swn of Sixty ($60.00) dollars per month for his personal time and Thirty-Five ($35.00)
dollars per hour for any time devoted by his associates. Two Thousand and Six Hundred
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(�2,600.00) dollars shall be paid to Walker £or the dcvelopment of an evaluation model.
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In no event shall the total fee charged to the County exceed Twelve Thousand and a�'
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Four Hundred ($12,400.00) dollars.
4. Indemnification. The County agrees to indemnify and save harmless
' Walker from any claims of liability arising frorn his performanca of these contract
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obligations. Such indemnifications shall not extend to claims arising from the negligent
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� acts ox omissions o£ {Valker and/or his associates, and shall not extend to acts or
� omissions of Walker and or his associates
/ performed outside of the scope of this
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� contract. ?
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�', S. Covenant Against Contingent Fees. The Contractor warrants that no
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� person or selling agency has heen employed or retained to solicit or secure this
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Contract upon an agreement or understanding for a commission, percentage, brokerage,
���� or contingent fee, excepting bona fide employees or bona fide established commercial ?
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�` or selling agencies maintained by the Contractor for the purpose of securing business.
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d� 6. G¢�atuities Prohibited. The Contractor agrees not to give any employee �.
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`� or former employee of Pitkin County a gratuity or an offer of employment in connection �
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with any decision, approval, or disapproval, recommendation, preparation of any part j
, of:a program requirement or a purchase request, in£luencing the content of any
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specification or procurement standard, rendering of advise, investigation, auditing,
z or in any other adivsory capacity in any proceeding or application, request for ruling �•
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� determination, claim or controversy, or other particular matter, pertaining to this
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� contract or subcontract, or to any solicitation or proposal therefor.
Gratuity means a payment, loan, subscription, advance deposit of money, �"
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services or anything of more than nominal value, present or promised, unless consideration
of substantially equai or greater vaZue is received.
7. Kickbacks Prohibited. It shall be a breach of contract for any payment,
gratuity or offer of employment to be made by or on behalf of a subcontractor under
a contractor to the prime contractor or higher tier subscontractor or any person
associated therewith, as an inducement for the award of a subcontract or order. The
Contractor is prohibited from inducing, by any means, any person employed under this
Contract to give up any part of the compensation to which he/she is otherwise entit2ed.
(The Contractor shall comply with the Copeland "Mti-Kickback" Act (18 USC 874) as .
supplemented in Department of Labor regulations (29 CFR, Part 3) which are herein
incorporated by reference. �
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8. Sub-Contracts. The prohibition against contingent fees, gratuities,
�` and kickbacks prescribed in this contract shall be conspicuously set forth in every
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�:' subcontract and solicitation therefor.
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Conspicuously means written in such special or distinctive format, print,
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or manner that a reasonable person against whom it is to operate ought to have ��!!
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� noticed it. %
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9. Remedies. In addition to other remedies it may have for breach of
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i the prohbiition against contingent fees, gratuities, and kickbacks the County shall
have the right to: � :
a. Terminate this contract without liability
h. Debar or suspend the offending parties from being a contractor
or subcontractor under County contracts
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� c. Deduct from the contract price or consideration, or otherwise recover, � .
�, '� the value of anything trans£erred or received by the Contractor
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^'' d. Recover such value from the other of£ending parties. s
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10. Appropriations Provision. Nothing hereisi shall be construed as an �
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obligation by the Owner beyond any amounts that may be, from time to time,
appropriated by the governing body of the County; it being understood by the contractor "
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that payment under this contract must he conditioned upon'annual appropriation of '.��-•
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� funds by said governing bodies. Contractor, before providing services, shall be '
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notified as to the status of funds appropriated for services and shall not be obligated =�`
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• '; to provide services for which funds have not been appropriated. '« .
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� 11. Benefit. Upon execution hereof, this Agreement shall become a contract ?�
f between the parties and shall inure to the benefit of the parties and their heirs, ','s'�t
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successors, administrators, and assigns.
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12. Binding Law. This contract is entered in to in Pitkin County, Colorado,
and shall be interpreted under Colorado law. Any action as to the interpretation
or enforcement hereof shall be brought in Pitkin County, Colorado, and the prevailing y;<,,,_
party shall be entitled to reasonable attorney's fees as part of any judgment. '
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IN WITNESS iVHEREOF, the parties set their hands the day and year set forth
above.
BOARD OF COUNT CO ISSIONERS
A ST PITKIN CO RA
By: �\ /
Lewis Scanlan Cal �Klanderud
Deputy Clerk and Recorder Ch rwom
APPROVED AS TO FORM:
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1N s ey . Light(f M. Rolle t9alker, General Partner ,6
County Attorney Community Development Associates ti
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� 8. Sub-Contrricts. 17io prohibiCion against contingcnt Ecos, gratuitics,
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and'kickbacks proscribcd in tt�is contract shall bc conspicuously set forth in cvcry
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��' subcontract and solicitation thcrcfor.
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��_ Conspicuously mcans writEcn in such special or distinctivc format, pritit,
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or manncr that a rcasonaUlc person against wliom it is to operatc ought to have
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�,'� noticcd it. :
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y: • 9�. Remedics. In addition to othcr remedies it may havc for breach of a
� the prohbiition against contingent fees, gratuities, and kickbacks the County shall
��; have the right to: �
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:'��t a. Terminate this contract without liability
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�' b. Debar or suspend•the offending parties from being a contractor
� � � " or subcontractor under County contraFts
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' e. Deduct from the contract price or consideration, or otherwise iecover,
:�i the value of anything transferred or received by the Cantractor
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�• � d. Recover such value from the other offending parties.
. _ i„
10. A�propriations Provision. Nothing hereisi shall be construed as an
`� i. obligation by the Owner beyond any amounts that may be, from time to time, _
� • appropriated by the governing body of the County; it being understood by the contractor `
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that payment under this contract must be conditioned upon annual'appropriation of
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£unds by said governing hodies. Contractor, before providir.g services, shall 5e
t notified as to the Status o£ funds appropriated for services and shall �ot be ohligated
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to provide services for which funds have not been appropriated. • E
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' x 11. Benefit. Upon execution hereof, this Agreement shall become a contract
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�ry between the parties and shall inure to the 6enefit of the parties and their h�irs,
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4� successors, administrators, and assigns. �
��' 12. Binding Law. This contract is entered in to in Pitkin County, Colorado,
and shall be interpreted under Colosado law. Any action as to the interpretation ?
. �. .
or enforcement hereo£ shall be brought in Pitkin County, Colorado, and�the pravailing �"
'. party shall be entitled to reasonable.attorney's fees as part of any judgment.
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IN W?TN£SS 4QFlEREOF, ths parties set their hanus the day and year set forth
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above. • �
BOARD OF COUNTY COt��tISSIONCRS i
ATTEST: PITKIN COIN'CY, COLQ2AD0
By: `
Lewis Scanlan • � Nclen Kalin Klandcrud �
I?eputy Clcrk �nd Rccorder Chairwoman
APFROVED AS TO rORhi: • �
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{Vbslcy . Li�:ht M. Rollc {nikcr, Ccncr:�l Purtncr ;,
County Attorney Community t)evelopment Associates :.,
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ADDCNDUI•I 1'O t4L•:�tU[i/�VDUM AGRL'EbtENT
THIS AGIi1:liML•'D!'t, mndc and entcred into this 30-�ri day oE July, ;
19fl2, Uy and beL-o-�cen 7'I1L•' D011RD 0� COU�ITY COMh1ISSIONL•'ItS OP PITKIN COUNTY, �
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COLOR��DO, (hcrcinafL-cr refcrred to as "County") , and JAY R. KUIINC, and �
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JAY R, hU11NE d/b/a JAY R. ICU[INE AND ASSOCIIITLS OP NEV�IDA, (hereinafter ( i
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� ref.crrcd to as "Kuhnc") , is upon the Lollowing terrns and conditions: }'.•'
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D7I1'N�SuEi'ft: �
j4fIEFtL'r1S, the County and Kuhne entered inl-o an elgreement dated Julv �
� �
� 20, 1982, o�hcreby thc CounL-y and Kuhnc agrced to the evaluation of
alternal-ive l-hi.rcl part-y proposals for the development of Silverking �'
�i �
Phase TV by a muL'ually agr.eed upon consull-ant to the County, and �
� WHL•'I:i.nS, Lhc p�rL-ies have ayrecd L-hat Rollc Walker, of Colorado 1
e.� • f. .
�r Spr:ings, will serve in the capacity of- consultant to the Coun�.y ior
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. p review and reconmiendation on such alternative proposals, and
' � • F7Ii�RLAS, in order L-o meet his oblig3tion to review end report to
`�� thc.Coun�y regarding altcrnative proposals, Rolle Walker needs additional
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' time to perform said review, and
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S` WH�R�AS, said extension of time is necessitated by,delays in obtaining .
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E �necessary information for the revietv process.
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NOW, Tfi�F.E1'ORB, the parties agree as follows=
t 1. Gxtension of Revic�a and Comparison Peri.od.
� In vie�•r af the extended period of time necessary for review
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oL alternativc proposals by the consultlnt, Roll.e 4;niker, the "
?, parties hcreUy tigrcc lo antcnd thc 7..:i_:l. �.enCcncr� ot p.zragrap;� (.
� one of tlte July 20, 1992 AyreemenC by �tri};ing "July 30, 19II3"
and replacing it with "August G, 1982." In accordance c•�iL-h
this estension of revicw period, the partics furthcr agree
�.
a, to exl-end lhe period for initiation of construction by a l-hird -
garty. Thcrefore, sentence 4, para9raph 2 of thc July 20,
1982 Agrecment is hcreby amendecl by striking "July 1, 1983"
and replacinq it with "July S, 1983."
• 2. Tenns of I;xtension.
Any and all altcrnative proposals for the development o�
Silvcrking Phasc IV, incluc3iny Kuhnc's proposal, shall be
considered Zs complete on July 30, 19£32. The County sh121
not relay zny additional information regardinq any
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¢; • , proposal to Rollc Walkcr aEtcr Jul}( 30, 19a2, and Walker ::hali
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not considcr any inPormal-ion in his c.�v.�luat•ion which is reccived
�` by thc County after July 30, 1902..1'Uto �ever, Walkcr may considcr
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additional verbal inLoimaL-ion in l:he way of clariticaeion or -'
� . .
�" subsLantiaLion of wriL•ten maL•crials submittcd so long as such
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�: information is supplied pursuant to his request. No additional "�"
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� �• wxitten intormat-ion shall bc reccived, whatsoevcr. Walkcr '
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shall keep a written record of tlie substance of such verbal �
� communications, to be included with his reconunendations to
the County.
� 3. Savinqs Clausc_ ,
� In all• ol-her respects, the previous.agreements between the �
� ..�..
parties dated March 30, 19F11 and July 20, 1982, shall remain �
�1 � .
r � in full force and efEect_ This Agreement is hereby incorporal-ed a: •� .
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into ttiose previous agreements by this rei-erence. �'
' BOARD OP COUNTY COMMISSION�P.S �•
' ATTE T: � PITKIN COUN Y,/ COLO DQ�
`'�� - �/ �- - 7�/fi/lf/[� IIy: ��/" ��' �.�GS���"� �
b wis-Scanlan � I len K�j�in la� nderud
, Deputy Clerk and Recorder � �hairwonr�n� �
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�PROVED AS TO FORM: / �� /
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i� �1�l� �ti--'CC-'�c-1� J�y �Ruhne j
Wesley A Lighi: �
County Attorney
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�� l T��.t..1 efin,CC aCso neqcwie .tliat (UaCf:en heject ariy �r.tii.tteii �.i.natic.in.2. '
conuni,Lt���eitit eubmc,Lted by a .t{i.iiid pat.t� a�.teh Ju.CJ 30, 19k2.
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[. . MCPIOPJ�NDUU AGRI;Et•If•:[•7T
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TlIIS AGRL•:�MENT, made and enl-ered inLo this 20Lh day of July,
r-�' 1902, 6y and 6eL-ween 'Pl[G DOi112U OI' COUfJTY CO��;P{SSSIOt��RS OF PIThIN
,�
COUM'PY, COLORI�DO (hcrcinatCer refcrred L•o as "County") , and J11Y Jf;
�' •
��; R. KUFINE, and JnY R, KUfINE d/b/a JJ1Y R. ICUIINE AIJD nSSOCIIITES OP ��
� NEVADn,. (hereinaftcr referred L•o as "Kuhne") , is upon the �
^�'� following terms and condit-ions: i
��• • � `f
. WITNESSETfI: `'
� �
WiIERJ:AS, L-hc County and Kuhnc havc previously entered 5.nto �
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�^� an Agreement dal-cd March .30, 19F31, whereby certain righCs and I
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�.; obligaCions �rith respecL- to L-he dcvclopmenl• oP Phase IV oL- the • + '
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� Silverking Apartments project wcre set iorth, and
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��z 4�ISEREnS, the parties desire to clarify their intentions with
��,' * respecL- to the �_.ercise of said rights and OJI1CJlt1011S for the
� .
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;���� developnent of Phase IV, and
' WI]LREAS, huhne, by virtuc of the Plarch 30, 1981 Agreement
_ = has the ri9ht to e::ecute the devclopment of Phase I`J provided
t�,,: �• certain conditions are met and no necessary submission or
" approval is denied, and
'�
�'
- W11L•'R�AS, Fuhne and the County me� on July 13, 19II2, to
engage in a "Pre-r�pplicati.on Conference" pursuant to Section 6-2
�= . .. .
of the Pitkin County Land Use Code to provide Fuhne and the
�'.
�.
County with advance information on Fuhne's proposal for the
�1 development of Silverking Phase IV, and
�s �.
�.: W}lE1:EAS, said "Prc-Application Conference" has been
�I cont-inued to July 20, 1982, at 3c00 P.[i_, and
Y7![GRL•'AS, Kuhne has indicated his agreement not to execute
�..
his contracL•ural right to develop Silverking Phase IV if the
Board of County Conmiissioners has reccived a more favorable
proposal for the Silverking Phase FV project by July 30, and
wt�r•.r.c��s, Kuhnc and th�: County desizc to reach a final
' uncicrst�nding of Kuhne's position rel.ative to the exercise of his �
develoE�ment ri9hl-s to thc Silverkiii9 Phase IV project,
NOW, TI(1;P.L•'I'O[:�, thc parties igrce as Eollows:
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�!> . 1. Revicw oE (tuhna Pro�os�l. Thc County, by and through "',
�. . �
its Corcunissioncrs and StatL-, will review the Kuhne propasal for I ,
Silvcrkinq Phasc IV at the abovc referrcd "Prc-Application '
" Conterence" conL-irivance ot July 20, 1982. Such revicw will bc '
!
� based u�an comp�rison of the Kuhnc propos�l for the Phase TV =`.
�, ,..,�-
� development wil-h any and all other pro�osals for the developmenl- /.
�` of SilvcrY.ing Phase IV. Based upon this revicw and comparison,
�
� the County �aill inform Kuhne by July 30, 19f32, whether or not it ,.
, will informally accept the Kuhne proposal. !
n� 2. Effect of Countv Review. 4lhatever the result of the
�_� �
e:� Counties review Kuhne may immediately continue to convert 67 � f
r� � ..
units to condominiums without awaiti�t9 the date prescribed for
4' ! ..
f
� such convcrsion in l-he Sctllement Agrcement. In the event that �
`€
'� the County informaLly endors�s the huhnc �roposal over any and
, �
�,. Z �' �
�' alk other proposals, such shall not be considered formal or final °
approval as required by the Pitkin Counl•y Land Use Code. �' .
�
'� Following such endorsements, Kuhne shall proceed immediately to �
� 4 ' secure formal approval of the proposed Phase IV development from 3
' "'� . all required 9overnmental agencies, including Pitkin County.
it ,� Kuhne sha11 have an exclusive right pursuant to the Contract of �..
tlarch 30, 19i31 to develop Phase IV so long as construction y '�
�
commences by July 1, 19F33. Zn the event that the County �
informally rejects the Kuhne proposal as a result of the July 20, ! �
k
1982 "Pre-�lpplical-ion Conferencc", Kuhne and the CounL-y will i'
� i
consider such reject9on a "denial" of "approval" pursuant to
Para9raph 5 of thcir btarch 30, 1901 Agreement. Therefore,
pursuant to such denial, Ruhnc's exclu�ive right pursuant �o the
Contracl- of Marcl� 30, 19IIl ��to develo� the Silverking Phase IV _
:���,_
project shnll be tenninated. However, the County may declare -
such a "dcitial" o�ily if all of thc followinq elements are "
present: . '
a) Submission by' a third party independent of the
County of a plan for development and fznancing of Phase IV '
substantially better than that proposed by Kuhnc;
�
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- � b) Thc devclopmcnt plan mu�t bc Cor a��proximntcly
370,000 sc7uare feet of interior space constructed at one time and
not in phases ciL•hcr of units for rental or a mix of rerital and '
. �'
sale witli a bias in favor of rental all under thc price �sestric- �
tions imposed by the [lousing nuL-hority tor Prill housing in PiL-kin �:?�_, ,�
� � .-f
County. In no event will such denial be in L-avor oE a plan by a r,.J
� third party to construct housing free of such restrictions;
c) There exists a commit•ment fron such third party
that satisfies objective requirements to be established by the
;� CounL-y's consul.tant, to be mutually agreed upon by the parties by -
�
� July 23, 19E31 to provide assurance that the financial
� opporl•unity t•o proceed is available. Such assur.ance shall
� consisl of a commitment from a qualified financial institution
� subject only to condition over which the County has control, or a
�. �
y commitment from an underwriter in the form of an investment
�n '
banking letter commil•ing to purchase tax etiempt bonds when such
:,� .
are legally available at the then prevailing rate; and
d) A binding agreement of such third party eqaally as
�'� secure as that reguired under subparagraph "c" above that such
�` 3 third party will imnediately upon final formal approval Uy the
i
CounL-y for development of Phase IV reimburse I:uhne for monies
, k
c�pcndcd by him in connection �vith planning for the development
� of Phasc IV, whi.ch would have been expended by a reasonable �
developer in ]Cul�ne's.position, not to inc].udc accounting or. 1e9a1 '
� fees.
{
IC for any reason construction ot Phase IV is nol- commenced
by � third parl-y on or before July 1, 1983, ICuhne shall within 90
days subr.�it- another plan ior development and he shall have the
exclusivc riglit- pursuant to thc Contract of March 30, 1981 to
develop Phase IV for one year from the date such application is
submiLl•ed.
3. Cooperation bv Kuhne. Kuhne shall, regardless of the
approvnl or denial of his proposed Silverking Phase TV
developmcnt, continue to abide by his cooperative
responsiUilities as set forth in thc March 30, 1981 Agreement.
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�`r� �� In particulnr, Kulmc shall convcy thc lands reFcrred to in
�'� M
�:�` ' •
• "��' Paragra�h 3 of thc March 30, 1901 Agrecmcnt as soon as possiblc.
� . .
.�1.
�;:: In the event that said lands are not yet conveyed at any timc .
Fn;; • .
„� prior to thc Decen��er 1, 1902 requircd datc, Kuhne agree5 to join
���; �
�r in any applicaL•ion for dcvelopment approval or financin� as � ,
i'`sx��;
�'�:`i`-. ' ��� .
��x'r.',''
processed Uy any party seeking L-o develop the Silvcrking Phasc IV ;-�'
_ %'...;
t_..,
�;� Project. Kuhne shall be permil-ted access across Phase N �p
E�-".
�S � properl-y he o�+ns adjacent to Phase IV, so long as such access
Y ;
does noL- intertcre with the devclopment of Phase IV. �
�: ;
i
��` 9. InlenL- of- Rc�rrement. This A9recment is intcnded Lo �'.
�� �
fi'?� clarify L-he exercise o[ rights and obligations of Phase TV under !
�,x`st the Plarch 30 19II1 l�creement beCwcen the . !
, ) parties. Tt is not �
I.
�; intended to amend or otherwise alter or waive any terms contained j• '
!;'� in the Psarch 30, 1981 Agreement_ � .
f�� i.
��' =� _ 5. Bindinq Effect. Upon execution hereof by the parties, �
: �:•: .
�.'��;:3 • �
; �,j this Agreement shall become a contract binding upon the oarties
;�"xand their heirs, executors, successors, administrators, and
} �
� !
'.0
°r assigns.
.�� '
r��,: • 6. Time S.s of the Essence. Time is of the essence hereof
��
_ and compliance with all dates herein shall be strictly adherred
y' t�.
��4-' non�zn or• COUtdTY corir�isszor��Rs
PITf:IN COUNTY, COLORf\DQ
AT L•S �•
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Le�ais Sca�il.an E}C,len� i.rtl�n' (l:in�cruct
�` DepuCy C2crk �nd I:eco - cr Chairo-�o�`'�n
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APPROVED ;1S TO G'Oj' 1: ' -
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Wesley � . Lig t . j
County ntl-orncy
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` Jay.�R. �i:ul ne
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�� COUN7'Y OP PI1'ICIN ) �
� , Thc for.cqoi.n�f was acF:nowl.edrycd bcEorc mc this ,��, day oL• i
July, 17t17., by Iicicn Kalin t;lancicrud, Chairwoman, Doard of' CounLy •
� Commissionecs [�i.tkin Counl-y, Color�ado. `
�� 47T7'hIL•'SS my Fiand and official seal. '
�r", biy commission expires: /�/�/-c�� ��•
- ��*.� ° -
;� � -L�.� i • r" ••�c -C•`-`-� --- i .
3
N•ta•ry Yubki soaEn.�.�;n�ra;co.aici� j
Address:
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COUNTY OI' PITI�IN )
`� ,r-l� o:.�..
The toregoinq was acknowledgcd bet-ore mc this c—J!0 day of �
�..." July, 19f32, by Jay R. Kuhne.
; WITNESS my hand and officia seal. �
'�, �< Afy conuaission c:;pires: l� '>-:, ��"�
K ' , (� � o
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- Notary Public -L
;� � Address: ,�V-�--ti ���1
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AUGUST 16, 1982 '
,t
�t � REQDEST rOR PBOPOSALS
..''Ya�' - , . . . . y's
#
�i , , DevelopmenL- of rmployee Housing �
�;; in Aspen, Color.ado 7
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. ��'
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4: i
�� The Housing Authority of Pitkin CounCy, Coloxado is requesting proposals trom 9.
� ��' development firms Lor tlie subject project. Enclosed is pertinent infonnation
s� Lor use in preparing proposals, cahich will be used as a guide in the preparation
�;� of any subsequent conl'ract.
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�i `\,���� �90iC�69'A ��l4.@�'��j° �
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��."� OUTLINE POR REQUEST POR PROPOSAL PHASE IV
� DEV�LOPMENT I
I
. !
I. Project Introduction �
� '
•� II. The Market Summary/Background Information k_
j '
2. Phase IV Parce2 �
�;.� • 2. PPII� Program
�� ' 3. Demand for PMfi Units �
III. Project' Parameters
�� . 1�`.
�;=. • �
1. Project Density and Phasing E
y�: :�^� Z. Land Use Approval Process
�: p;y 3. Design Criteria '
4. Site Maps ,
K� S. Siee Planning and Architecture
.,� 6. Development and Infrastructure Cost Estimate Summary
, 7. Ownership/Rental Mix
' �: 8. Rents, Sales Prices
, �`, 9. Fi.nancing
10. Management
�'``j: IV. RI'P: Required Information
� 1. Applicant General Information
r' = 2. Identification�of Principal Participants e
; 3. Project Description � '
�r 4. Time Table . %_ .
�: 5. Financial Proposal/Economic Feasibili[y of Project ';'
. �#
V. RFP: Administrative Information
ii; ?�
�i 1. Specific Requirements for Applican[s � '
2. Selection Criteria �
�;k� ,
3. Selection Schedulc & Procedure <
�,,•� VI. Appendices � �
a:
�; �_
A. Swnmary of YiL•kin County and P2Ai Housing Program
B. Resolution of 82-39 H.A. Guidelines
C. Table for Unit Size and Incames
D. Building Regulations, Yilkin County
E. Legal CommenC for Bond Requirements, tental g�idelines and addendum '-...
.. iY.�:;' i
F. Land Use Appl3cation
.. ' . ..',.�'�, . .... . . . '^ . ' . ..��!r=�Mr.+w.m«.��+----.—_'._...__ ..... . � .
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.+�; August 16, 1982 !
,.
:�::� �
�;,� -
f` I. PROJECT INPORMATION
��
^-; The Pitkin County Board of County Commissioners is seeking a complete
���� development package for Silverking Phase IV with the property being
X'�
�'=`` transferred by long term lease to a developer. In tur.n the developer
�°r? is er.pected Lo finance, construct, and manage Lhe entire project, as
'�" � it is the County's objective to assume a very limited role. This
�t�,
�^�, Request for P'roposals outlines the County's criteria and guidelines
for development. Included in this RFP is the scoring system for the
���J criteria develo ed for'the ro'ect b the Count The RPP
�I`^ p p � y y. provides
`�
sufficient latitude for a development group L'o create innovative
-� approaches for L'he use of the property coithin the County's parameters.
�, K=��' The developer should Cake into consideration al.l possible Cax benefits
w1' . and innovative financing programs in order to develop the�nost economical
�:� -
��- package. • ,
�.;,:
F.
,;�i:�
r.A� This packet has been prepared by L-he Housing Office and tl�e Board of County
Commiseieners of the Housing Authority, and with the assistance of our 's
financial�advisors and planning consultants. The developer selection �
';�. will be madc by the PiL'kin County Ilousing Authority, with the recouunend- �
y--� ations of E.F. Hutton and Company and Community Development Associates. g .'.
";?"' The original submissions will be reviewed by the criteria described hxre- �
-�M in. The developers which meet the criteria of the proposals will ?
�� be invited to an interview and presentaL'ion which coill allow for further �
_ questions and the development team to expand on their proposals. The
" scope of the proposals responding to the RFP will focus primarily on ;�
��`' the financial structure of the project. A definitive site plan will
��:
• not be required, yet conceptual unit plans �aill be necessary. The
��� background and past affordable projects of the team members will be
iv'�: considered in lieu of the actual site plan. �
�.� .._ � >
?� .
�'=i� ' i�. �
¢,;; Responses to this Request for Proposals (RPP) are due by September 13th,
�`,i,f' 1982 at the Pitkin County Court House, 506 East Main Screet, Aspen, .
�� Colorado. With the responses to the RFP there will also he noirretundafllc
�:'.�
fee of $5,000 required of all respondents. In order to anticipate
`f'! the developers interested in purstiing the prc�ect, a deposit of $10,000.00 is e
� required. On August 27th, a $10,00U deposit will bc required of a11 . `
developers interesl-ed in responding to the R1T. Upon submission of
proposal all Uut $5,000 will be refunded.
E� 1 �*_
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� We are very much looking forc,+ard to assisting you in preparing your (
response. If you have any questions regarding the RI'Y please con-
tact Gail Mahoney, the Project Director for the Housing OEfice at
9Z5-G612. Our staff wi11 be readily available to assist you at
� any point in time during your preparation o£ the proposal. We will
.,,� also offer �he assisCance of our financial advisors as we11.
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�� II. MARKET SUfiPiARY/EACKGROUt�D.I�POR1fATI0N
��.
I:', � .
�:
� 1. Phase IV Parcel . .
� . . 'f,
,a Pitkin County is interested in constructing 170,000 residential square feet on �
"' Phase IV of Silverking. Our objective is to replacc 217 exisL•ing rental ;'
� units �ahich are in the process of undergoing condomiaium conversion in .
��i Phascs I and I7I of Silverl:ing. A Settlement Agreement was signed in
May of 1981 beeween Pitkin CounL-y and the owners oP a 304 unit apartment �
complex called Silverking. The complex oc�ners under the agreement are �
�� permit'ted tu convert the units into a combination of resCricted and free • %
�� ' marl:et condominiums. 87 of the units have been Iegally cundominiumized, �
renovai-ed, and sold to employees under the Pt�hl program. The balance o£
n� 217 remaining units will be converted over the next o�e to three years
�" �.
�:� of renovation and Iree market sales with six montli lease restrictions. �
�i ' I
��j It is the intent of Pitkin County to replace the 217 existiu� rental uniL-s
��`� as quid;ly as they are needed on the PLase IV parcel. This land has been �
� given L-o Pitkin CounLy through the Settlement Agreement for rlevelopment and �
�� �will be provided at no cosL- to the selected developer either �luough a long �
!
�.� term lease or deed for the property. The parcel of land specified as Phase �
�s� IV, whicli is availabl.e for L'he project is 12.5 acres. An additional parcel, !
s� •
�� »� also to be included, is four acres for a total of 1G.5 acres. There were
;�� _ other parcels provided to the County through the Sel-tlement Agreement which � �
":� � will not be included with tlie �roposal dueto the diffi.culey of developing
,�y them. �Enclosed with this proposal request is a topographical map +
,k� identifying the site available for development, and the significant physical i
` �} features.
The County is seeking a complete development package for Phase IV which will �
r �� r
'j�y involve the property being 'leased to the developer. It is also assumed
i [hat any further subdivision of the parcel for sale units will. involve the
`1 transfer of land to the eventual
purchasers. In turn the developer is ex-
f� �; pected to finance, construct, and manage the entire project. It is the ��'
Count-y's objective to assume a very limited role. This RequesL- for Proposals
outlines the County's criteria and guidelines for development. The RFP pro-
vides sufficienC latitude for a development group to create innovat'ive ap-
proaches for the use of the propetty caithin tlie County's parameters. The �
Y; developer should take into consideration all possible tax benefits and in- �
noval-ive f3nancing programs in order L-o develop the most economical package.
,� �
r� '' � ..
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�. 2. PlSH Program I
�_ . t.
�'� The project is proposed to be developed undcr the PriH Program LPermanent �
�� Moder.ate Housing). CurrenLly, the Pitkin County Housing Authority ad- t : .
ministers over 400 employee imits in the YA4i Program. The Uasic tenet �
of the program is to provide housing for permanenl local employees which
is immune from the forces af market speculaL-ion. HisCOrically, employees
have had to compe�e with Cour.ists and seasonal employees for long herm
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�`'� hous3.ng. Housing costs in L•he Aspen area are therefore influenced by
u� the aUiliCy to rent uniCS short ter.m at higher rales. Aspen has a very
unique and expensi.ve real esL-aCe market, 1nd because of the inflated nature
��� of: Aspen's real. estate prices, mostpermanenCl.y employcd residenl•s have not
f��y
�;� been capable of owning free marlceC pr.operl-ies. For er.ample�in 1981 the
pr;� average sales prices were: $336,000 for single family residences; • :
tz� $242,500 for condominiums; $182,500 for building sites. Due to the ex- '
y�,'r� � clusionary nature of real estate v:�l.ues,a separate market was establish-
�i ed througli the YN�kI Progr.am. �, �'
�`� i
�,:� Within this PrIli market the demand cw-rently outstrips the existing supply. ��'
ii Supply i.s regulated within the program through deed restricCions placed
upon the units at the time of the first sale, or development in the case s
�`� of rental uniL-s. The restrictions govern the amount of allowa6le appreci-
� .
��� � aL-ion and the mechanisms for resale and purchasi.ng. The units must be
�jt occupied Uy permanent employees and function as �heir sole residence.
��j t
'+'� The PMII Program was esCablished by Pil-kin County Rousing Authoril-y in 1978 t' '
,.in response Lo a perceived need Por stabilizing housing foz local employees. �
� The first projecl'� were consL-ructed by both the public and pri.vate sector
� in 1978 -1979 and sold on a individual basis. Also, in 1979, a Task Porce
�.��� was formed in order to evaluate the need for employee huusing from an
�i:! ana7.ysis of housing and employment characteristics oP local�employees.
�_"� Based upon the results of this study, the Task Force id2ntified Che elements
�'� of the Housing Action Plan. A 250 unit shortfall was determined as the �
,,� EK=� buildout objective (one half of the identified need) with an on-going need +
��, �;� - for 67 units to Ue developed on an annual basis in order to'keep pace with !`
commercial expansion. In 1991 the Shortfall Analysis caas updated based upon �
r�,� a buildout of PMH units and employee growth. Since 1979 approximately 165 �
�`,� uni[s have been iieeded and duri.ng this time 202 caere produced. Therefore,
. t:� the current neC shortfall is approximately 165 units. In addition to the y .
'e!; catch-up'number of 165 we are a].so faced with the need to replace the 217 '
apartments involved in L'he Silverking condominiumization. Ther.Pfore, in �
, �' . ,
t�: the near future, there is a total anticipated shortfall of anproximate.ly 380 j
�
,+? units.
. �` . j
The market for PPiH units is continually documented through the upuating of �
t' the demand analysis first developed by the Task Force in 1979; maint-anence
5 oE a mailing list exceeding 500 individuals interested in PliH Housing; the
waiting lists for rental projects of nearly 200 individuals., I.otteries are �
r, necessary for the resale and original sales of- PMH uniCS due to excessive ?
demand for them. �7
�'� d
�'� � The primary demand inducers for the PP4i units are sales prices and financing.
'"� The sales prices are �aell beloco those of free market. For the most part the �w
^; � original sales prices are Uelow SOY of that of the free market. Anoeher �;
"' attractive feature. is L'hat most-often a financial package is available with �
kt t:
t:?� these units. Interest ral-es of the mortgages have been subsidized through
�� bond issues or some L-ax exempt financing program. Pitklu County and the � `
.''� City of Aspen are not involved in any federal programs such as HUD and Chcre- �
fore issue their own bonZs. The bonds,althougli unrated, have been issued
� at a rate equivalent to those of a M ratino. The other means ot sub-
sidizing thi� project is through the inclusion of: land at zero cost to the
� developer or the purchaser.s.
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The ellgibil3ty of employees in the program is determined thr.oush the annual �
�doption of tlte housing �ui.delines. 'Lhe guidelines ure baseH upoi2 the in- J ,
come distribul•j.on of. local employees and are divided into lo�a, moderate and �
middle incomr_ catagories. The approval of the individual projeecs, and
the subsequenC decd restrictions, will then speciLy which income sroup the
' project will address. The objective is to provide housing For the different
liouseholds and incomes in order that housing costs do not exceed 33� of
their annual income. 11iereLore, uni.t size, rents, mortgage costs, etc., �
_.c: are considered in evaluation of the income qualifications of the pros-
- pect-ive purchasers and renters. Included in the apprendix is a copy of �
the sammary o£ the Piticin County Housing Authority PMH Program and a copy �
' of the Housjng Guidelines wiiich were adopted in 1982. ]loCh of these
y documents wil.l assist your understanding oE the operal-ion and the composition
' of the Pt�Ili Prograro.
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*� ,III. PROJI:CT PARAr1GT1iRS i:
,�
i
F: , In developing your proposa].�tlie following parameters have been specified
by the llousing Authority as their development objectives. Agai.n, these ±
� r parameters set outside constrainl•s for your proposal. No nroposals will �
� be considered �lithout a minimum of SOX moderate income rentals. The f ,
primary goal of the RFP is to generatethe best overall produrC in terms � ,,,:
� of quality, mix, cose, and financing. The proposals will be evaluated
=;� according to the criteria summarized below. The followin� is a dis- "�°
� cussion of the specific parameters within whicli your proposal should
he developed:
1
.. SCORING SYSTEM EOR COUNTY OB.TECTIVES i
f �
� WGIGHT OBJECTIVES ?
r-.a •
�� •.1667 Rental/Sales Mix.
k� .1GG7 - Holding Period for Rental Units(maximum number of years). `
g .1250 County Participation & Protection Einancially. j
E .1100 Rental Price StrucCure according to guidelines. 1
.0941 Sales Price Structure. t '
� . 075 Rental Pfix by unit size According to Recommendation. � :
.� . 075 Rate of Buildout over 7'otal NumUer of Years.
�' . 075 Coverage of Building Sizes as a Percentage of Parcel
�" t� - � Size. �
.0625 Sales Pfi.x by Unit Size.
. OS Square Feet/Unit Type (i.e. low, moderate, middle).
i
:. � ,
` e! '
+� 1. Project Density and Phasing •
��.,� The size of the parcel is 16.5 acres. It is tUe County's objective
to develop the parcel cvithout excessive density. Approsimately
� 170,000 square feet would be considered acceptable Eor interior
�� � residential space. In addition to the interim rentable space,
there will be square footage for. laundry, stairs, hall.s, etc; as
well as provisions for managment, mall receptacles and possibly
a very limited commercial center. Tlierefore, a criteria of
' . 20-25Y coverage of gross residential square feet plus non-rentable
is acceptable. ._ ' �
The development of the units may be phased over time. If phasing is •
� to be considered,it could be consistent wiCh the phasing of L'he �
, conversion of the Silverking Complex Pliase I and III. That phasing
is Projected Lo be:
Summer 1982 35% 76 Units
Summer 1983 15Y. 33 Units
Sunm�er 1984 55% 11� Un+C. -
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4s.��_����� d � � �
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� Phasing of this project would be accomplished within five years, al- ?
L•Lough a phasing triChin' two years would•Ue desirable. j
Thc Smngglcr Arca Master Plan,which is iu the process of being adopted, �
lddresses the i.ssues of zoning and density. The objectives and policies {
to Ue adopted for. the development of tlie sites in the Smuggler area �
� include the following w'_�ich should he considered when preparing con- �
ceptua]. site plans:
`.;?'�:
,•�
t Obiectives•
i. Providc for safe, decent, affordable, long-term
housiiig in a variety of types and styles. �
. • �
2. Encourage the concept of neighborhoods. � .
a
3. liinimize conflicts in development that may occur
• bet'ween new development and adjacent existing
� land uses.
�� 4. Encourage land use patterns L-hat reduce dependence � .
� upon automobiles and promol•e alternative modes of ,
Lransportation such as mass transit, bicyclino and
y • wslking.
4
.'�'`: i'� 5. Preserve environmentally sensitive areas and prohibit•
� development from occuring in hazardous or sceni.c
areas that are unsuitahle for development.
.,�; Policies
f `. • 1. The Smuggler Area should provide a heterogeneous '
mixture of long=term housing opporl-unities to
yp ; meet the requirements of new persons with varied
6i life styles, incomes, and ages.
t'y 2. New residential developments in the Smuggler Area
should be for long-term housing. Residential
development or.iented toward short-term accomodations ,
sliould he precluded in the area.
3. A tialanced mix of residential land use densities
"r should be encouraged.
? 4. Innovative sit'e planning techniques sltould be employed
�: to insure creative design, high-quality development,
and redevelopment.
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2. Land Use Approval Frocess
�- �Ls L-he projecthasnot yet been approved f:or development, the developer will ,
�� be responsible f-or having the proporty rezoned irom AR2 to PUD, and then , '
�` Pt�l. Sub,divisi.on will also be necess�ry L-o separate these Phase IV parcels �
�' �rom the balance of the land given to the County.
'ti: '
I�.. ''
Should any conversion of renlal units to ownership units be identified �or !
' the Puture it will be necessary to receive the 'speciLic. approvals for - :�.
� this conversion. There are provisions in the code which shall be ad- � 1
�� dressed and the initial applica�ion shall anticipate this conversion
�,, and provide the necessary approval.
�r� . Included in the appendir is a land use application form from L'he Pitkin �
� Counl-y Planning Office, specifying whaC documents need to be developed !
� in completing a land use application. Also included are sections of.
the code which summariz� the issues and policics associated wiCh each
�� of the elements of the application. It has been det•ermined that the
;�`a maximum development density Lor the Phase IV•site ioill be 170,000 square feet
k � whi.ch isallowed under PrIIi rezoning. The following is a fee schedule for
� • the application to the Planning Office. It does noL incorporaLe any ad- �
� • diCional studies or time for preparation of the general submission. All
�� time in excess qf tlie maximum planning staff allotment shall be billed
�-' at $145/hour. Tne developer shall pay all costs associated with the
k ' approval process. '
�: � . ,
� Maximum Planning Office
r� Hours $
;*ci Rezoning 9 $1,270.00
PMH Gener.al Submission � 12 $1,706.00
. � Detailed Submission 10 $1,425.00
�, Final Plat 11 $1,140.00
4"
•�s.,
'� 3. Design Criteria
A site plan will not be required of the respondents, yet the following
elements summarize some special design considerations. Enclosed with
this RPP is a site constraint map for your informat-ion. The CounCy
% anticipates the proposals co incorporate high quality design standards.
These standards incorporate minimum County building codes, in addition A
to innovative designs for aifordahle housing with medium to high grade
materials utilized throughout. Each developer musC agree to submit a11
design elements to a commitL•ee sucli as the 3lousing Authority, which will
oversee the project development in order to 3nsure a certain standa*ds
for quality. ALrthough thc Co wrt y ,hall be YnvolvedS�ith the design iL• is
our intent that buildin� design, sites, location etc., shall be determined
by the developer. The Eollowing summarizes the cril-eria of the County for
the desi�n of L-he project; and Che site planning information available .
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4. Site Map
i
� Tbe enclosed map sununarizes Che constraints identified on the site which i
includec �
� Ul-ilities availab].e L-o L-l�e site �
,� � Property boundaries .
;,y Easments on siCe including: Spruce Street; Cowenhoven Tunnel +*�;>i
� enCrance; �Salvation Irrigation Di[ch right of way. �/`
�; +�
�
t.
�t' Set backs and heighL- limitatiois are summarized in the Building Code which
has been attached. Soil Cests have been conducted on the site in most areas
� buL- are still lacking in the tunne7. path. The map recommends Where baflding
j site'locations be avoided until more inf'ormati.on is available.
4�
„ i
�
�� � � 5. Site Planning and Architecture
� Some of the elements of the buildings' design will be regulated by the
local building codes. The objective of the Housing Authori:ty is for
� the residential complex to be compatahle and competitive with the balance
of the rental housing in the Aspen community. Its predecessor, the
�' oriQinal Silverking complex, became ohsolete within ten years due to
�,� "j� design, maintanence, and density ptoblems. The Phase IV project is in-
' �' , Cended to serve as a long term solution to housing needs in the community. '' �
� '�� Incorporated int-o,the site plan cai1L he certain criteria regarding the
.F�` following elements, (again Which elements oF design will be.reviewed by
the design committee.)
Transportation, Parcel Access and Road Desigtt
' � A. 1'edestiian circulation, trail syst-em. •
;�„_ B. Parcel access points.
's C. Circulation �oil•hin pro3ect.
D. Emergency vehicle access. _
� E. Service vehicle access.
t
P. T�ansporCaCion vehicle access.
G. Parking with 1.75 spaces per unit according to�mix in RTP;
any oLher mix would require tcao per uni,t.
H. Signage reJ.ated to road safety. '
+1 T. Grading shall not exceed a 3:1 slope.
i�
Building i•tass, Height and Scale _ � A
k
�.- A. Acceptable buildin�+ height in stories and feel- above grade.
�. H. Definition of building height and method of ineasure.
C. Shading of adjacent property. •
D. Ileight, length, a�id width of bui,lding elevations.
E. Separation Uet�veen buildings.
F. Visual impact on adjacent properties.
�
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�`� Ar.chitectural Design I
,7 ;
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sl A. Er_terior materials. •
� ;
;K B. Roof materials and slope. �
�.� C. Roof drainage and snow holding charactcristics. �
D. Roof system for cold weaLlier conditions. �
�,'� ' :_
�� �ner F.ificienc Cnnservation Landsca in and Draina e Desi n ,.�'�
c.: 8Y Y, , P� fi, S 8 i'
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i£ A. Del-ention poncls. .
�� B. Conformance caith drainage plans.
y C. ' Water qua]ity. �
v� b. Landscape criteria will be developed for the Eype of: treatment near
s. the buildinss, the residential area,and circulation areas, i
,�� . '
� ' . uit-e LighCing Criteria i� .
� Other. Szte Design P.ZemenCs
..sj �
A. Amenities: The ameniCies to be considered for tfie ptojecC j
�,"' are limited Co laundr facilities, o en s ace/trails/
�� Y P P �'
�,r recreation area, storage space, and�on site.management office f
.��; .; witii post office facilities and possibly a sma12 convienence store.
�, ^'� - ' center. The project should not include extensiJe recreation
` or commerical facilities.
�,� .
`F�� B. Nei�hborhood Commercial: This concept has not been �
� totally approved for the site by the Planning Office,yet �
� ' should be considered on a limited scale for thc development. y
i
_ �. �.
�� C. Laundr.y P'acilities: Adequate laundry facilities shduld be
planned for the complex. At a minimum L-here shall be a
�'.�� washer and dryer for each ten units.
i
t' :�� D. On Site rtanagement: An onsite management office w3th post
� 4ffice Facilities shall be incorporated into the plan for
- the project. The management office should facilitate any
�c: maintanence oifice and storage necessary, including provisicn
�r;i' for snow removal, garbage col�lection, landscape and building
��;, maintanence.
.n.
` E. Storage: There shall Ue a minimum of 25 square feet- of ��
�`sr exterior storage per unil in the complex. LocaCion and �
" sizing o£ tl�e storag¢ should be planned in order to
�;+ !.
�c� accomodaCe ou[door recreation equipment and auto�notive
�' parts and supplies.
�: �.. .
F. Play Area: It is anticipated that betwcen 50 to GO children
caill reside in the complex. A ch3ldrens'play facility
should be planned with a minimum size of 6,500 square feet
and include play ec{uipmene. Tlie qullity and skill level
F�� oE this equipnicnt wil.l bc determined along with the remainder
of development criteria for the project.
10
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6. Development Cost Summary
Three cosl•s areas are summarized in th3-s section of tlte RFP:
�,
t. E
1. Fee £or. the ul-ilization of existing information
� 2. On-site infrasCruceure costs. ��;_.•
� 3. 0£f-site infrastructure costs. ' 't
_�� � r`
#� Two separate development estimates caill be requested for the project. The
first' shall include only the on site development cosL•s without any off site
`�' costs. The second estimate should include both the on site and off site
i- costs for utilities and roads as estimated herein. The Board is current-
� ly analyzing the budget necessary L'o upgrade the area surrourtdzng *_he pro- !
,� ject. It is a possibility that by modifying a portion of the project, �
sufficienl- revenue can be generated to fund �hese ofE-site costs. Such `
� modification to fund these iMprovements may compromise the Boards objec-
tives, therefore the direct impact upon L-he project should be dclineated
�A by the two proposals. �
y
1. There are certain work elemenCS that have been compl.eted � `
�'1 with respect to the development of- Phase IV. This planning � .
�� and enaineering work wi1.1 Ue made availaUle eo the selected
developer. Therefore, there wi2Z be an automatic�fee �.;
�1� � - assessed to the developer which will not exceed $68,000. ' � -
. �� The €inal dollar amount will be detennined Tuesday, AugusC
24th, at which time you �oill be notified. In the interim
-, � please ul'ilize the maximum figure. Your calculation
1 _ may tlien be adjusted by the revised figure when you re-
�; ' ceive it. Accompanying the final figure will be a listing
.,, �' , of all of- the work conplel'ed, which will include: soil tests,
surveys, and preliminary land plans. '
�.
�
' 2. DeveloPment Cost Estimates - Phase IV Site
t
Building pemiit fee $�9,670
.k Plan Check fee $38,785
(AUove based upn a $10,000,000 valuation)
. �,
Land Cost - Phase IV Lease $ 1 per year
k. ldater Tap Fee $933,405 -
(on siLe disCribution not included)
� Sewer Tap Fee $21,308
(on sit'e dietrubul•ion) $129,000
Electric, Telephone, Gas $180,000
;:�
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Drai.nage $ 60,000 i
. Connector Roacl ' 70,500 �
��"' Total L�seimated Costs $1,471,361 •
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Y
All of the above eetinates have been developed to provide a guideline
for the project sil•e development cosl•s. Not included are L•he cost
,. estimaie for circulation, parking, roads, sidewalks, and landscaping. �
A speciEic paving slandard is required for the site as described below: �
.. �
,� � .
� Road costs will be computed at a rate of $60 per linear ji ..
foot.
" See below: )
!
. i
�:.
_ 8' 24' 8' .
r R.O.i�. 40' � �
�f �
� Two 12` vehicle Lanes
'� ' No curb, no gutter, no sidewalks '
No parking
�� Shoulders
Service level capacity = 235 VPH
12' Class 6 road base
-� @; � • 2" Asphalt per CDOH sYar.dard
�
' '�� , Walkways are to be incorporated into site plan per the following
specifications:
�� A rate of $18/linear. foot will be used to calculate caalkway
costs.
6" Class 6 gravel
N 2" Asphalt
8� Wide (CDOH standards)
i .
t�a _' •
The above cost estimates and any speclfic on site costs should be the basis �
for one development proposal, which include only on site costs. ,
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3. 0£f. Site InfrastrucCUre Costs �
The following cosl-s aze those anticipated for the Smu�gler , �"
• neighborhood. A proposal should be developed to reflect
• these cosl•s. Again, the informal-ion is for comparative
purposes in order to evaluate the impacb of these im-
provements upon the project. It is a condition of approval '`"�'`/�
that these i.mprovements be completed and phased consastent x-� �
�: f
- with the developmettt in that area per the master plan. � t.:�
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� y
Off Sice Improvements relal-ed to Phase IV Development
Bridge $269,000
Road $467,500 '
ROW $358,500
• Y7ater System upgrade $436,000
$1,531,000
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�;;� ,7. Owncrsl:ip/Rental Miv, • ;
w_� i
;;i IL' is the objecl-ive of tlds FPP to cteate the minimal number oE sales �
;�� and maximiim number of renlal units on the s3te, and to mainrain them :
as such for the longest period ot time. It is anl-icipated t}�at a per-
= centage of the total units ma� be for sale ander tlie PMH Guidelines, per
'�M'�''.�� ' the attached. Free market sales should not be considered. Sales should I
�� be under the middle and moAeraee guidelines, and rental should be under ! _:
� ttie ].ow and moderate guidelines. LependenL- upon the financial proposal, '� ;.
�:,� Lhe ronversion oF renCal units into sale units may occur in the future. s:�.
�q� Sale units may also be developed for sa2e immediateZy upon the compleCion Y
of the project and will be pre-sold dur.ing consCruction. Converting units
„ from rental to ,ale 'is not allowed under bond financing for a minimum
,9 of twenl-y years, tlierefore other L-ypes of finaitcing will have L-o be
structvred should conversion be necessary. The County desires eo see
� son�e provisioa for their ability to have firsl option on any sale of �
rental units. Resale of ownership units will be dictated by Lhe deed re-
;�� strictions placed upon ther.i.
1:d The following mir. of uniCS has been deveJ.oped Uy the tiousing Office. �'
�'� The recommended mix has been sensitiaed according to the incone cap-
�3 aUi].ity oL- employees, and Uy the mix of units to be converted at Sil.verking.
y;� The followi.ng mix is to be ucilized for develooment:
�� .
� •
`; 100"/, Rental Project ' Rent•al./Owner Mix �
�,`� Renl'al Hix Percentages if not 100% Rental
;�, =� " Rental Ownership
�:� Studio 30% 30% 30% �
!'; 1 Bedroom 30% 30% 40%
� 2 Bedroom 30Y 30% 20%
3 Bedroom 10% 10% lOX �' _
't�4 Z�R: 100Y 100Y,
. �� ' .
•i.. Ttte mix of sale units is higher for the percentage oI ur.e-bedrooms and
� the percenl•age of tcao bedrooms has been reduced. Last winter's conversion
, y of Phase II of the existing Silvetking Complex has provided a disproQortionate
`� number of t�ao bedroom sale units. It is anticipated �hat all Phase IV units
will be pre-rented and pre-sold prior to their completion. Based upon a sub-
stantiated indication of interest prior tn tneir construction, the final
mix will oe determined. In order to evaluate proposals, your uciit niix should
be developed according to the above recor,miendations with the understanding
f some modification will take place in t�e future.
i .-
8. Rent and Sal.es Prices ' .
�� Projected rent and sale price amounts must meeC the PtIlI price guidelines,
�j which are based upon annual incr.eases in local c�ages. The following is
EJ that section of L-he 1982 Guidelines which restricts rental ancl sales cost
� on a per square foo[ basis for developments. It is anl-icipated ti�at in 1983
the Cuidelines will be adjusted to reflect any inerease in local wages during
the past year.
14 •
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TNCO�IE ANll PRICG
, GUIDF.LINGS 1982 �
�s . I ,
�` INCOAff3 RANGE STUDIO 1 IIL�DROOM 2 IiL�AR00M 3 or 4 B�DROOM �
�
LOW 0-10,000 0-14,350 0-21,700 0-25,580 �
MODLRATE 9,250-14,700 13,275-22,050 19,585-29,400 23,665-38,520
,� MIDDL� 13,600-29,400 20,400-33,520 27,200-51,750 35,630-68,720 �
$�
� �.
� I;OW MOD�RATE MIDDL�
) •
;� CONSTRUCTED UNITS �
r# (a7.lowed price per i�
" � square foot) �
��
�. (SEL� NOTES)
SALL�S �1,2 ) $58 $72 $87 {
�� RENTAL �3,4 5 � .55 .65 a..
�3 .
A,. �
S
�, y. - MINIMUAi/PtAXIMUM SQAURE F�ET
w, , �
- Srudio 400-600 Sq. Pt.
' 2 Bedroom , 500-800 sn. rc. �
�` = 2 Bedrooms �00-1100 Sq. Pt. '
3 Bedrooms 1000-1300 Sq. Ft. �
� NOTES:
''�:�?
�; 1 and 3 ,
j' �;; Square foot allowance is calculated on living area only (interior
� _ measuremenL-). Rental rates rounded to nearest $5. Sales prices
rounded to nearest $100. � �'.
2
' Allowable price per square foot is ca2culated at 13Y. interest amortized
�: for 30 years with 10`/. down. I£ 13% financing wich lOX down is not pro- s,
�� vided the price per square foot will be`adjusted to reflect appropriate
affordability. The average income in each catagory for each ��
� size unit wi21 be used to determine affordability.
4 �' .
Rental prices include all common uCiliL-ies �
•f� 5 �"
The renCal rates which may .be charged for a project is the rate in
effect at t6e time of general submission approvaL -
; -
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' 15
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.'y�l�T�ry� , y. �Y�.'� ^4�� t'i�l��q���� . f�., � KJy����`�74 ,•f t �M �i�iZ���� nt91��.;
<a�.+t�wt.;rt R..��f�,�.�i� �Q'. �"'��'�'ni�:��:��kt� � v. a �
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r The above guidelines specifying development coses i.ncorporate specific �
ki�� assumptions regarding size of uni�s and cos�s for financing. OT1ie above �
�`� guidclines have been developed based upon an assumpt'ion of 13L fanancing.
'f � The range of square footage for unit size has been adjushed based upon °
�� income catagories (ie., small.er. units for lower incc�me, etc.). TaUle �
yr_' I has been included in the apnendix 1S an example of uni.t size as it �
� relates Co tinancing and is extrapolated Lurther Lo demonstrate incone neces- - .
S'.�� sary to purchase sale units. The fol].owing table specifies the
,;'.;
�,�.y� unit sizes recommended for the individua]. income catagaries of low, >
[ moderate, and middle incomes:
3��'�' +
g,r.'
�Y�3 . i
t-..: '
� ALT.OWABLu SQUAR� POOTAGti AND REN'TAL RATCS �
�
�� ' UNIT STZ� LOW t'IODERATE MIADLE �
. f i
�: Studio Sq. FC. 400 to 500 450 to 550 Nyp �
��� P.ents $Z20 $247 $292 to $358 �
n... . • ;
%�_� 1 Bedroom Sq. rt. 500 to 575 575 to 725 N/A • �
'�=• Rents $275 $31.6 $374 to $471 '
�` �
#� � 2 Bedroom Sq. Ft. 700 to 800 800 to 2�00 , N/A �
�`� - F.ents $385 .$440 $520 to $650
�� —
>�'
3 Bedroom,Sq. Ft. 1pU0 Yo 1075 1075 to 1150 N/A -
t ''� Rents $550 $591 �698 to $748 � '
��fi` ' , �
t 4=` .The development proposal nceds to.specify tlie assumed mix of,renL-al and
'if.ij sales units. Each niiti confi�uration must be analyzed per a
E 33� debt to income ralio, and the required i.ncemes should be consisCent
- with the income guidelines for that unit size and iacome catagory. Utilities
�i � sha'll not be included in Che specifi�d rentcandenergy conserva*_ion con- �,
? siderations should be identified. In determining the purchase price for the �
sales uniL-s, the mid-points of L'he i:�come ranges shall be d'esignat'ed as the
income objective Lor the 33% deUt to income ratio necessnry Co amortize.
� Any assumptions regarding increases in rent over time in the financial pro- �
po�al must anCieipate restriction oE such increases according to L'he annual } :
,; adjustmeizC in tlie guidelines. Rents may be incrcased consistent caith the _
t+� growth of wages and financial capability of local employees. For example,
��' beL'ween 1981 and 1°,SZ thc Guidclines were adjusted by approximsCe7.y �;
• 8.C� utilizing a national indes f-or wa�e increases. In 1980 to 31 Crte Giiide•�
lines �aere incre:ised 10% utilizing an update of local wage survey. Ie
w may be assumed that local wages increase at a level consistent �aith hhat '
� of national wages.which may be Uelow historic increases.
� •
„� 9. Fin�ncing
� e1s mentioned,Pitkin CoUnty is seeking a complete development package,bpecif:!cally
' including fin�nci.ngy,:onstruction, and management. Th. is tfie understanding
16 . �:?
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�.t 5� ;�� �t;f7 �CJ+ ,� +.'( ��L� '-i..'`'�'�
�+x, i
� a�!,� �„�,�{� ���T� .{yC�'�j"�� �'��i������d�zf�t�a,W^'���y�t ��ti"5��;�j,�y�. �Q.'" �rt�9{ i�'i+�x*7d yil�i� .
��� �S*�x-`��y�`�Y`,�(li) '��Ytl� ..fl �4'�4p�+ h�t`k� �'�,� n �t� F� r,e ��'7y�ry�����ni ' .
C 1 a.�t„ f�9bi'u J M`��if..��� 4� �7i 4 }(,� tS� `�i1t�'W4j f S
��:�-.�. �. �K :.�,..; .# '
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���;';� of L'he Housing Autliority l-fiat the financial proposal for the project
��"' wiJ.l dictate most other elements such as mix g, qual.ity, and
t�:i;:: > > Pri.cin ;
�;i phasing. il- is therefore assumed L-h�t the mosc attractive financial `
�
'tin';:� package will produce the best projecC. As stated,E.P. HutCon func- `
��:�;I. � L'ions as the County's advi.sor on all municipal issues. llutton will
��',;;! evaluaL-e tlie proposals as tltey relate tc� tax free financing and will �'
"�'� be available to assist any developer to the er.tent thaL' their
;c
t'V� involves tax exem t financin Communit Develo ment Associates�pCDAl
!:'-;` P S• Y P i .
'�' �` will evaluate the proposals accordin� to their financial feasibility.
r•�:j i
Tliey will also score the entire package for its ability L'o meet l-he
�';':^�� Ccunty�s objectives andits fin'sr�cial ceriL•.
��,� . In the financial area,l'ne key elemenL-s to be analyzed are tlie abiliL-y
�! to raise c1 ital and tlie ualiEicati.ons of the develo menC team. All as-
�5.:,� P 4 p
"�r P Y your proposal regarding rates,
sj sum tions should be clearl identiPied in
� fulure cosCS, eCc., in order to fully evaluate your ronosals in tl�e fol..low�.np
�:��e1 P
�.�-r;:f _ areas:
��y
""� 1. Equ3L-y �uill Ue evalual'ed on its legality with a con- :
� servative stance in any interp�rel-ation of the tax
�°"'t' laws.
�
!c;zc
.��; p;;�; . 2. Debt structure will be evaluated as a praven method
�, aw� of borrowing. The debt proposal must be documented
�',
by a lel-ter oi' intent from a finanical institution.
•;:� " specifying any conditions the loan may be suoject to,
:;�4'� and the rates and terms of such loan.
'�� %' .
3. Develo ment Team will be evaluat'ed according to its ;i.
• proven capabilitv in Clie individual areas of ex- �'•
.� pertise. � Emphasis �+ill be placed upon com- �'
. �``�
pleted projects involving affordable housing. Ac- �
�'"' . companying the proposals must be a Financial State- '
�;��
ment for the entity. �,
!' _ �
1 - St is the r.^sponsiblity oL- the developer to cecure both the construction �
•� and permanent- loans tu Einance the rental and ownership units, as the
County has not any funds available for Financing the proj'ect. To pro- �
�:� vide adeuq�te assurance of the availability oi these funds there must
�� ;a
1'� be a letter demonstraL•ing willingness oi the lending instituti.on to fund
the project, along with conditions Iimiting L-he instiCUtion's �villing- ��
`r- ness to lend. Once the project is planned and designed,that instiL•ution '
,,a
shall indicate their continuing involvement and interest in fi.nancino E,
tr ehe project. Finally, to be expected of [he lender shall be the' actual '`
?':� quarantee oP the permanent financing given along with the final design �
and approvals for the project. ij'
��
�:
- Construction financing should accomodate any phasing scheme that your
plan may i.nclude. The permanent financial package will liave to be -
tailmred ior both rental and uwnership units. The owner.ship units -
should be sold separately,which will include the transt'er of the ].and '�-
'r;i✓;:,. . �.
and shall reyuire a permanent financial pacicage accomranying Che trans-
Ier. The permxinenL• Einancial package for Lhe sale units .nay 't-' `
��....::` '{
17 . �,
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t.,��`r�^.i�u.^'�'` 4iX��.`.•��^,�.kid.'��,�iwY'+�e"�: 4'%dt ��{'�����<� y'SrY'''y��`j?�4'r i�y;���''�'�����'yt';.
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'�rentertain all innovative finaucial techni.ques that arc currenl'ly Lunc- �
T, '
L•ionin� in the £inancial markeL' place. It i.s anticip�l'ed Chat Chis f
�p�� financial packagc shall be oC a .lon� L-erm nature. The rates and struc- j
P."_ ' ture is to be comparable to 13% and 30 years as set fordi in the guide- �
�� lines or should Uc adjusLed downward eo be made comparable as discussed f
r� in the previous section.
�•� `"
�'� The abilit to finance the o�anershi ortion of the io'ect caith tax
.i�,�j Y P P P- 7 ����.
��' exempt funds has been severly ].imited by t:on�ress tliruugh their rectric- .
ti �
e tfon of. the use of tlie singlc Lami.ly mortgage bond pro�ram. The
CounCy will not be. in a position to issue any bonds fc,r tlie ownership '
units under our current allocation from the State, Uur currenc
' allocaeion is less clian $350,000, obviously not sufficient for a develop-
:� �� ment of this size� and is additionally not: feasiUle due Co the expense involved �
' in issucing thi.s cype of bond. There is some possibilil•y that a re- �
� allocation may take place or that spoC loans may be made �aith tax
� exempt Lunds through Lhe Colorado Housing rinance Authority. CAFA �
� issues bonds on an annual basi.s, and [hese tax free funds are then al-
�" located to the individual communities. CHFA has specific criteria �
�' regarding income, assets, and purchase price L-hat must be saL-isfied cahett
£? utili.•r.ing these funds. Thac criteria is included in the appendix of
I:.
'r�' Chis report. Pinancing through C1�rA should be applicaUle for Che
�: smaller units of the complex under L-heir eaisting prosram. They may I
'?:� also be instit-uting new programs which may accomodaCe all the unit �
�� �� sizes according to reeent discussion with them.
� Although, financing puchasers wiL-h a Pitkin County Uond issue is
�'' currently yery ditficult there exist some possibility L'ltal-
4
tax exempl- funds may be available xor the rental units. There is also
'�i,'� some question regarding the availability of these funds Jue to impending
r.._.
d change•.: in regulations concerning the use of indusl-rial development bonds.
Should tax exempt financing be deemed ieasible for the rental units, the
' � i'ollocaing are some of the elements which will restrict the use of those
��� ` funds. (Included in the appendix of this report are two comments froat
d�> our bond counsel regarding the use of these bonds ,) In summary, some of
the major consideraL-ions are the following:
'i
- -20% of the units must be avai�able for low iacome
« families.
�. -no conversion from rental Lo ownership of the units
� shall take place for a twenty year period.
� -the bonds must Ue collaCerized by a loan or certificate � ir
of deposit guarantVing the aniount of the bond.
�::tt
i'.:;: ' �
-any o�rnership unics�sithin a pro3ect must be physically
�c separated from the rental unit f-inanced wiCh the tax exempt
'l bonds.
} All L•he financing fees or costs associated wiLh procurring financing
�e`: will be the responsibility o£ tUe developer and should be incorporated
s�. Ynto the Einancial projections. As mentloned�the County is wi].ling to pat-
18
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. ' ' . . � n�� � � � �
. . . . . . . . . �- .. . . . .
,� � , ' . - . . . . . __i.
� . � . . ' - . . . r '.if�}.',�. . '
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� �,�+�� ...._ . � �i .a �.� '�+����,f�,:.
• �1 ;�
. ,�. `>'�,
�•'��� ' • . '
��;• . .
a.�, i
i� ` }
3!'� L-icipate in the issuance of llie bonds, and to provide finaneial advice
�;'' nnd assistance Lrom E.T. IluLton and Company. � •
'y. �
; �
�; 10. rfanagement Ylan . �
. j .
�. ' A manflgement plan will be necessary for Che on-going nanagement oE the
,;, project. Described in the management plan shall be a schedule for de-
ferred maintenance; designaLiOn oE funds for exeraordinary expense and ��
�� iepair; specifica[ions for garbage collection; snow removal; land- -
R scaping maintenance; and leasing restrictions, specifically which allow
children but shall not allow pets or short term ren[als, and any other
g°1 sCandard operating items. Included in the following section is a Lorm
for summarizing budga projections for the operation of the project. ,
� ;
,� s
,Y; In detail , Chere should Ue included a21 projected, fixed and variable !.
� ecsts, including assumptions regarding vacancy, annuai increases, per- ; .
' cenCage for operating, reserve funds and terms of financing. Your �
� mana�emeut group, is to be identified and 'their background summarized. �
It is anticipaLed, Lhal' ear.ly on a qualified management team will have i
�. � valuaUle input on design and cost of operation of the projeci- as i.
�� � quality of design and operation is the County's objective.
ti�� �
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�:` IV. 1tFP INtOIi��lATION � •
+�:n�: I
y;�t The following section of the RFP details l-he specific informal'ion and !
�� format• requirements to be incorporated into the proposals. The propos- �
�y�;.�, als sl�ould be as complete as possible in order to provide a common basis � •
�� from which they will Ue evalua�ed.
_���m
�;;:ia
y°'�i 1. Applicants General Information
^r•r Provide in Detail the Following Information:
' �
,�i� Name of Firm j
+�� f ..
Address �
�� ' . i
�;;� .
�' .
i
Phone �•
�� . .
� �
y'� Date Firm F.sl-ablished � :
,r.
�, �� �
Type of Or.ganization
�� . �
� �:
>��� Names of Principals
l ,,.
.� �
��
'�'.�'�,�y Provide a brief history of the development experience and
area of special expertise for all principals anil staff
members with prime responsibility. Include a resume,a nd
'=�t summary of $imilar projects for each individual.
• ::i
It is important that the applicants demonstrate the financ- �
n~ ing capability of the firm or consortium, please provide: �
�; i
(f{_.
?� 1. Financial References
�"
;h: 2. Financial Statements : �`A
"` a. biost recent audited statement �
�
f'S` b.• Current unaudited(�aithin three months)statement
� 3. Demonstration of capabiliey of being Uonded
_ '
`y� for performance bonds or letl•er of crediL• tu indicate
fwillingness to issue� Por SOY of value oi L'he projecC.
4. Current work in pr.ogress and estimaecd cost of
work in progress.
=t�.;
20 .
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. . . , . ' . . (; . . �. � . � . � . ':�'� �.
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�.. . . . ._..t�.��r�.r,1�i/���.�� •. L�`4KAW����� j �"��'.IS�Y�' �C ���tl�A1��r���Fk'fy�y�
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2, IdentificaL•ion oE Principal Particlpants
7: .
c � In responding to the following areas regarding project responsibility, �
' identify whether a principal of L-he projecl• or an outside consultant �
�`, �
� or subcontractor will be involved. Nete the history and your relation- f" .
ship wil-h Che outside con�ractor, and describe their experience and `
� � background in that phase of the projecC. ��
A �
:w. • f
f
' Architecl•ure/Design
�
� Land Planning �
�� ' Engineering , �
� s
IIuilding Design �
�::.
� Landscape Desi�n
a.
�' . Consl-ruction of the Project
,� �
(, ".A
� Site Preparation
�� Cons[ruction
>�� Landscaping .
� �
i: .
i �
Project Management
.i-
�r� During Construction
�" Ongoing
•`y
�:
i Financial Planning and Administ•ration
! .
�,G
� �
�
,�
�A
3 :
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21
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{ - �ter �x�- � ��;�1;�,
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�
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3. Project Description : ,`�"
� �,� '
y� Summarized previously are the requirements for the project
description and planning,At this Cime a site plan is not
"required,yet suPficient representations should be made
• ' regarding project design and quality. Additionally, a incorporate
� stacement perl•ainiTtg t-o ti�e developex"s cai].Zingness to
� comply with the recommendal•i.ons of the design commi[tee
L•o be esl•aUlished. Full detail regarding mix, prices,
� • sizi.ng and phasing will be necessary.
� Included in the project description shoul.d be a projection
of l-]ie time fzame necessary for the project completion.
�� Include the folloaring sel�edule £or construction:
' ,
Beginning Date
�` C Completlon
� Occupancy
Phasin� and Sizing of Each Phase
.`r�
4. Time Table
• :� . , �.. .
The following is a projected time table which includes; the
1f. selection of the developer; preparation of the submission '
` for approvaZs; approval process; and construction of the
� proj ect.
�2 rt • .
August 16th, 1982- Distribu�ion ot Requesl- for Proposals
August 27th, 1982- Deposit of $10,0�0 due from all
developexs, all refundable upon
proposal submission, except $.5,000
� applicationfee:
i
September 13th, 1982 - Deadline for'all proposals
s - . � "
i Se�temher 13th-27L-h, 1982- Analysis of proposals and oral
!�. presental-ions. �
SeptemUer 27tii, I9S2 - Developer selection
September 2Sth to November lSth, 19II2 - Preparation of Genetal Submission i'
- Site Planning �
j - Concepcual Design �'
November lSth, 1982 - S�bmittal of general submission
� application Eor. Planning Ofiice review.
:V�
' 22 - ti'` �:
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. • � . . . .� . . . . . ... _ � ' �� � . � .
1 �
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a5 � . - ' . � � '
May to June 1983 - ProjecC Approval. �
�. July 1, 1983 - Mandatory Commencement of Construction �
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4'q;' Winter, 1983 - Occupancy
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5. Financial Propo3al
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n. . All pertineni inform�Cion regarding tlxe financial structure of .
" the proposals will be required. Accompanying this information �
will be a complete project profile summarizing its composition
� of rental, ownership and occupant cost. The following page
summarizes ttie basic information required concerning develop-
` menY costs. Alsa L•o be included caill be a full explanaCion
of the financial package anticipated for the project con-
�.; struction and permanen[ financing and aIl associated costs.
The Leasibility of the debt and any equity required muse
�: be proven and all assumptions must be s�ated. .IIonding
� capaUility or ability to secure le[ters of credit..' should
k:� be provided as described.
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6. Management Plan.
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`'� In addition to the capital badget for the development of the
7 � project, a three year income and expense projection for the
. ongoing project managemen[ should be included as well. �
' Specified in that income and expense projection should be any
• renl-al increases anticipated for the future of the project.
� Provided is the following form to be completed summarizing the
��� � Eirst three years of operation.
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�.� • SAi•tPLG SSTIMATGD !
DEV�LOPAILNT COST i
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1. Construction Costs (including profit)
Phase I Phase 2k Phase 3*
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Site Preparation
"� - Ueility Costs �
Buildin� Costs
Landscaping
,� � TOTAL
� DIRECT COST/SQUARfi FOOT '
2. Pees � Indirect Construction CosCs
Architectual
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t� Design
�': � Supervisory �
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, � Legal •
��K�- Consulting
� Survey & Soil Reports
Insurance Bond
' � 3. Financial•
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Appraisal, Title Insurance
Financing fees underwriting
�� Origination, Servicing, Legal (for both
debt and equity), PPII, Trustee
_ 4. Developers Fee
5. Total Project Cost • `�
Total CosL/Square Ft. ""
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6. Assump[ions: • �
a. Puture b Financing Costs �
b. Rate of inflation For building costs
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��'' OP�RATING I:1COMli AND , �
EXPENSc IiUDCGT PROJCCTION
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� Year 1 Y.ear 2 Year 3
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I. Revenue
�- Rents •�
%:- .
� GROSS R�NT '
' ' Less Vacancy Factor (4Y. acceptable)
�` I�F.T 1:�NT .
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Other'Income:
� Laundry & Vending
� Interest o.n Savings; rorfeitures
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'-� TOTAL OTH�R IHCOME
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� Homeowners Association Fee
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TOTAL REVENUE
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II.Operating Expenses _
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PSanagement �
Audit and Legal
MainL-auence
' Trash Removal
Utilities (Common, Sewer, Water) . .
Insurance .._
t Piisc. � , _
Extraordinary Di & R Fund (FHA .006 X Construction Costa)
TOTAL OPERATIIJG EXPENSES
NET OPERATING REV�NUE �
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S�FORE DCBT SGRVICE �, .
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`2� . Y.IiAR ]. YEAR 2 YI'sAR 3
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�• Debt Scrvice PI flnd Servictng �
NET INCOi1� AFTER �
DEBT SERVICE
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III. Debt Coverage Fact•or f;
TOTAL '
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ANNUAL DCI3T S�$VICE
D�BT COVERAGE PACTOR (1.1. Minimum)
IV. Assumphtons .
� Annual i.ncrease in rents
Vacancy factor
f. % revenue for operating
�, �, Reserve funds
Terms for financing
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;� V. Identify principals of the Management Group and
Describe Espertise
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�`•{ V. IQ'P AI)NINISTIZATIV� INPOR4IA'f'ION i
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�;.: i;:. The following are specific fequlrements and information for applicants: �
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� 1. Pitkin County Housing Authority reserves the right to
�� modify requiremenL-s oi this RFP and to �aaive any in-
: formalities in the procedures, based upon updated marlcet
�y;�;� and financial informaCion received. ,
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`�7 2. Pitkin County Housing AuL-hority reserves the right to re- i
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,�; ject any and all proposals.
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,�� 3. The Housing AuthoriL-y is not responsible for. costs in- �
`�;: curred o�7 the part of the bidders. �,
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• 4. Ten copies of the proposal should be prepared and delivered �
�;� to tiie }lousing Office. i
5. The proposals are due Pfonday, Sept. 13th,1982 by 5:00 P.M. !:
��, at 506 fiasC Main Str.eet, Piticin County Courthouse, Aspen � "
�';`; Colorado. � -
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;��",: 6. L�ach proposal shall contain a cerl-ification from the �' .
�r, !�y'� aPPlican�: stating to the Uest of tt�e applicants know-
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"'�• ledge all of the information suUmitted as part of the
�`- application is complel•e and accuraCe and L•rue. In ad-
<;s..
,��f'? dition the applicant understands the information con-
; Cained in Che application is solely for the use of
e+�fi evaluating the potential of the ahove idenl-ified project
� and in no way represenl-s any warranty for funds or
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�,k.;;� ' committment to the availability of such funds. •
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6�';�y 2. Selection Cril'eria: ,
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t "' 1. Degree of compliance with the Cotmty's development parameters
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(ie � percenCage of rental and ownership, quaTity,
�R density, and cost).
' ty��;,`? 2. Time frame for completion..
'��� 3. Approach to the project including personal qualifications
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and similar experience.
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��, 4. Ability to raise debl- and equity . '
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`+�� 5. Typectt financial pacicage�including terms and longevi.ty, overall
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�� total costs,and cost to the occupanl-.
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6. Innovati.ve ap�roached to desiy,n, construction, financing ar
operation.
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"s� SCORIP�G SY.STEPI TOIt COUNTY 013J�CTIV�S '
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� WI;ICH7' OBJ�C'PIVF.S i
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�v �.16G7 • Rental/Sales Mix
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A` .1667 Holdin� Period for rental units y"+. '
'?� .1250 County Participation 6 Protection Financially %�/
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,1100 Rental Price Structure according to the
Guidelines
s • �• .0441 S21es Price Structure �
.;� . 075 Rental Piix by unit size according to recommendation
�° • . 075 Rate of buildoue over total number of years �
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�� . 075 Coverage of building sizes as a percentage of .;
' parcel size. � •
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r` .0G25 Sales Mix by unit size �.
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;� . OS Square feet/unit type (i.e., low; moderate, middle)
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1`�+s 3. Selecl-ion Schedule and Procedure �
` �g.' All proposals wi7.1 be reviewed and evaluated by CDA, ��hich �rill,then make
'i',�r' a recommendation to the BOCC, along with Che staff recommendations of
the Housing and Planning Offices. At suah time the Board will formulaCe
its oc.m selection of the successful bidder.
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� _ Oral presentations may be required of the Lidders before .the Board
of the Housing Authority Commissioners: t
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The proposal and developer selected may either be approved unconditionally �
�� or caith conditions. The selection shall be before September Zgth , 1982. �
{{ All proposals received and.denied shall receive writl-en notice of the
successful bid"der. Any proposals may be caiL-hdrawn �rior [� selection. � �
�, Yet they will be subject to forfeil•ure of ttie $S,OOb deposiC.
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VI. AYP�NDICGS ,
A. Summary nf Pitkin County and PMII Housing Program
B. Resolution 82-39 Ii.A. Guidelines
C. Tahle £or Unil• Size and Incomes
D. Building Regulations, Pitldn CounCy ,
E. Legal Coroment for IIond Requirements, Rental. Guidelines
- � " F. Land Use Applical-2on •� .:
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� � SUMMARY FORL•t " 3
� '
TO BE COMPLLT�D AND APFIXCD TO T}IG FAONf. OF PROPOSALS
�. D�VELOPMENT GROUP:
�� .
PHONE � `V
PRINCIPALS RESPONSIBILITY ADDRCSS ��
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PROJECT DESCRIPTION
E�" 1. Auildout � �;; ''
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TOTAL SQUAP.E FEET
PHASZNG d Year !1 Units
`, l� Buildings
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2. Unit Mix: Ren�al
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, 11 OE UNITS X UNIT SIZE .
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STUDIO
1 Bedroom ' 4 ' '
2 Bedroom
3 Bedroom (�
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3. Term of Rental Units �
4. Unit Mix: Ownership
11 OF UNITS � UNIT SI2E
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STUDIO
1 Bedroom ;;:;��;.'
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2 Bedroom i. ,.,..:; .
3 Bedroom �'�'�-_r:`:,.:
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5. Terms of Tinancing '
RATE TEP.M DISCOUNT CONDITIONS �,;. '.
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;� A. Construction ,
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B. Long Term: . :
. Renta.l llniLs
� C. Long Term: .
Owner.ship UniLs
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�� (, Building System description
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Quality Standard Comparable �
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