The City of Aurora (the "City") requests written proposals (each a "Proposal") from qualified for-profit and/or nonprofit development partner(s) (each a "Developer") to provide affordable housing development on City-owned land legally described as A parcel of land situated in the NE 1/4 of Section 3, Township 4 South, Range 67 West of the 6th Principal Meridian, City of Aurora, County of Arapahoe, State of Colorado, more particularly described as follows: Lots 35 through 44, inclusive, East Colfax Avenue Park, as shown and depicted on the plat thereof recorded at Rec. No. R0006170 in the office of the Arapahoe County Clerk and Recorder, LESS and EXCEPT the north 15 feet of said Lot 44 ("Property"). The chosen Developer will be granted a License and Option to Lease Agreement in the form attached in Section IV as Exhibit A (the "License") to perform due diligence, during which the chosen Developer shall be responsible to obtain any and all federal, state, and local approvals, permits, site plans, secure financing, and satisfy all other requirements necessary to construct affordable housing on one or both of the Properties. If the Developer decides to proceed, the City and the Developer will execute the long-term Ground Lease in the form attached in Section IV as Exhibit B (the "Ground Lease"). The Housing and Community Services Department ("HCS") will administer the Ground Lease in cooperation with the Real Property Services Division. A Lease Administration fee will be established at a minimum of $2,400.00 per year. This fee will be subject to annual adjustments ranging from a minimum of 3% to a maximum of 5%. Adjustment will take effect on January 1st after initial year.
