GOVERNMENT OF THE DISTRICT OF COLUMBIA
Department of Housing and Community Development
COUNCIL CONTRACT SUMMARY
Pursuant to section 202(c) of the Procurement Practices Reform Act of 2010, effective April
8, 2011 (D.C. Law 18-371; D.C. Official Code §2-352.02(c)), the following contract
summary is provided:
(A) The proposed contractor, contract amount, unit and method of compensation, contract
term, and type of contract:
Proposed Contractor: Ridgecrest Court Investor, LLC
Contract Amount: $28,252,213
Unit and Method of Compensation: Draw Schedule
Term of Contract: 42yrs / 3% Simple Interest
Type of Contract: Loan agreement
(B) The goods or services to be provided, the methods of delivering goods or services, and
any significant program changes reflected in the proposed contract:
The Department of Housing and Community Development (DHCD) proposes to
provide a loan to Ridgecrest Court Investor, LLC in the amount of $28,252,213 from
the Housing Production Trust Fund for the purpose of financing certain eligible
acquisition costs, predevelopment costs, soft costs, and construction hard costs
approved by DHCD for 128 units of affordable housing located at 2000 Ridgecrest
Court SE in Ward 8.
(C) Results, including the price and technical components:
DHCD received a request for funding from the borrower to be used for the purpose of
financing certain eligible acquisition costs, predevelopment costs, soft costs, and
construction hard costs approved by DHCD for 128 units of affordable housing located
at 2000 Ridgecrest Court SE in Ward 8.
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(D) The background and qualifications of the proposed contractor, including its
organization, financial stability, personnel, and prior performance on contracts with
the District government:
The NHP Foundation (NHP) is the developer and sponsoring organization of the
Ridgecrest Phase II project and will serve as the guarantor for the purposes of the
construction loan. NHP is an experienced non-profit developer based in New York
City with a local office in Washington, DC. Since 1989, the organization has
preserved over 18,215 affordable housing units. Currently, NHP serves more than
41,003 residents on 61 properties, providing nearly 10,354 affordable housing units in
16 states and the District.
Ann Nerona of NHP will serve as the Owner’s Representative during construction.
Previously, Ann worked as a General Contractor in the DC Metro area with varied
experience ranging from corporate interiors, retail, and mixed-use residential. Recent
multi-family projects include Pike & Rose Block 6 (The Henri), Skyland Town
Center Block 2 (The Crest) and 901 N. Fairfax (Venue).
The general contractor is Hamel and has satisfactory prior performance on contracts
with the District government.
(E) Performance standards and the expected outcome of the proposed contract:
The proposed DHCD loan proceeds will be used to provide a loan to Ridgecrest Court
Investor, LLC in the amount of $28,252,213 from the Housing Production Trust Fund
for the purpose of financing certain eligible acquisition costs, predevelopment costs, soft
costs, and construction hard costs approved by DHCD for 128 units of affordable
housing located at 2000 Ridgecrest Court SE in Ward 8.
The project is consistent with DHCD’s goal of preserving and producing affordable
housing for low-to-moderate income residents. Additionally, the borrower is required to
fulfill all conditions as set forth in the loan agreement within the agreed upon time
frames. Failure to fulfill the terms of the loan agreement will constitute default.
(F) A certification that the proposed contract is within the appropriated budget authority
for the agency for the fiscal year and is consistent with the financial plan and budget
adopted in accordance with D.C. Official Code §§ 47-392.01 and 47-392.02:
The loan will be funded through the Housing Production Trust Fund. Attached is the
certification that the proposed loan agreement is consistent with the District’s financial
plan and budget.
(G) A certification that the proposed contract is legally sufficient, including whether the
proposed contractor has any currently pending legal claims against the District:
A legal sufficiency memorandum from the Office of the General Counsel is attached.
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(H) A certification that the proposed contractor is current with its District and federal
taxes or has worked out and is current with a payment schedule approved by the
District or federal government:
District and federal tax law compliance certifications are attached.
(I) The status of the proposed contractor as a certified local, small, or disadvantaged
business enterprise as defined in the Small, Local, and Disadvantaged Business
Enterprise Development and Assistance Act of 2005, effective October 20, 2005 (D.C.
Law 16-32; D.C. Official Code § 2-218.01 et seq.):
Ridgecrest Court Investor, LLC is not a certified local, small, or disadvantaged
business enterprise.
(J) Other aspects of the proposed contract that the Chief Procurement Officer considers
significant:
None
(K) A statement indicating whether the proposed contractor is currently debarred from
providing services or goods to the District or federal government, the dates of the
debarment, and the reasons for debarment:
The proposed contractor is not currently debarred from providing services or goods to
the District or federal government. A debarment affidavit is attached.
(L) Where the contract, if executed, will be made available online:
The contract summary will be available at www.dhcd.dc.gov.
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Leroy Clay III Digitally signed by Leroy Clay III
Date: 2023.12.18 17:10:42 -05'00'