Guidance for Projects Reviewing a Contract Draft

The Department of Local Affairs’ Division of Housing is deeply committed to executing contracts in a timely manner, in support of our mission as well as applicants’ projects in getting affordable housing to the citizen’s of Colorado. Internally, we’re working to develop clear agency-wide metrics to track and measure our efficiencies and effectiveness. We are however also reliant on you, as our partners, to commit to consistent timely turnaround times to ensure we can execute contract language in support of our goal to build more housing now.

The general templates provided are intended to allow applicants to see the contractual language before the specific project drafts are provided. The project’s contract specialist will be able to answer any questions at the time of the kickoff call.

Project-specific drafts are provided within 14 days of the kickoff call. In order to ensure timely review, the Division of Housing requests comments on project-specific drafts be limited to Exhibit B and Exhibit F. In the case of a loan agreement, there are times when the other lenders may request some minor changes to Exhibits G, H, and I. If an applicant provides substantive or substantial comments on any other sections of the project-specific drafts, other than to correct factual matters, and/or provides comments back on the first project-specific drafts after 21 days, the timeliness of executing a contract before the award letter expires may be jeopardized.