Stanislaus Regional Housing Authority Awards Facilities Contract to Aspen Real Estate Financial Llc (June 2024)

Scope & details

The full contract record, as filed.

Contract amount

$856,298 rent 1st year; $100,000 initial marketing budget; Operating Reserve Fund of $395,000; Initial lease up Operating Reserve $110,000; Working Capital Reserve $776,000; $650 per unit per year capital reserve increasing at 3.25% CPI

Contract type

FACILITIES

Contract term

Up to 480 months (40 years), with annual inflation increase of 3.25% on rent and reserves; Housing Authority may buy out remaining lease at any time; property deeded to Housing Authority at end of term

Renewal date

2064-06-26

Renewal

Lease term is up to 480 months with annual 3.25% inflation increases; Housing Authority accrues 2.5% equity interest per year and becomes full owner at the end of the term via deed transfer. The Housing Authority may exercise an option to buy out the remaining lease at any time, and at the loan balloon date (end of year 28) the property may be sold, refinanced, or debt paid off in cash. No automatic renewal beyond the 480-month term is described.

Document type

Resolution

Source document

Stanislaus Regional Housing Authority Resolution 23-24-29 2024-06-26

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Stanislaus Regional Housing Authority Agenda Board of Commissioner's Meeting September 11, 2026

DISCUSSED

Stanislaus Regional Housing Authority, CaliforniaSep 11, 2026

Stanislaus Regional Housing Authority Board Meeting Minutes June 2024

APPROVED

Stanislaus Regional Housing Authority, CaliforniaJun 27, 2024

Stanislaus Regional Housing Authority Special Meeting Agenda 2024-06-27

PENDING

Stanislaus Regional Housing Authority, CaliforniaJun 27, 2024

county-of-merced-housing-authority-agenda-2024-06-18_326.pdf

APPROVED

county of Merced Housing Authority, CaliforniaJun 18, 2024

county-of-merced-housing-authority-agenda-2024-05-22_162.pdf

PENDING

county of Merced Housing Authority, CaliforniaMay 22, 2024

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Stanislaus Regional Housing Authority?

Aspen Real Estate Financial Llc was awarded this facilities contract by Stanislaus Regional Housing Authority, as recorded on June 26, 2024. The contract value is $856,298 rent 1st year; $100,000 initial marketing budget; Operating Reserve Fund of $395,000; Initial lease up Operating Reserve $110,000; Working Capital Reserve $776,000; $650 per unit per year capital reserve increasing at 3.25% CPI.

How much is the Aspen Real Estate Financial Llc contract with Stanislaus Regional Housing Authority worth?

The Aspen Real Estate Financial Llc contract with Stanislaus Regional Housing Authority is valued at $856,298 rent 1st year; $100,000 initial marketing budget; Operating Reserve Fund of $395,000; Initial lease up Operating Reserve $110,000; Working Capital Reserve $776,000; $650 per unit per year capital reserve increasing at 3.25% CPI, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a resolution record.

Where was this contract approved?

This contract appears in Stanislaus Regional Housing Authority Resolution 23-24-29 2024-06-26 (Resolution), dated June 26, 2024 from Stanislaus Regional Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Aspen Real Estate Financial Llc hold?

Aspen Real Estate Financial Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Aspen Real Estate Financial Llc's profile

What is Stanislaus Regional Housing Authority currently buying?

Explore Stanislaus Regional Housing Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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