Treasury's Mint awards $2.86M parking contract to DENVER HS-EF COURT PLACE LLC for 5 years

Contract Overview

Contract Amount: $2,861,850 ($2.9M)

Contractor: Denver Hs-Ef Court Place LLC

Awarding Agency: Department of the Treasury

Start Date: 2021-03-11

End Date: 2026-05-31

Contract Duration: 1,907 days

Daily Burn Rate: $1.5K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 3

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: PROVIDE PARKING FOR USM-DN EMPLOYEES

Place of Performance

Location: DENVER, DENVER County, COLORADO, 80202

State: Colorado Government Spending

Plain-Language Summary

Department of the Treasury obligated $2.9 million to DENVER HS-EF COURT PLACE LLC for work described as: PROVIDE PARKING FOR USM-DN EMPLOYEES Key points: 1. Contract value appears reasonable for a multi-year parking facility lease. 2. Full and open competition suggests potential for competitive pricing. 3. Contract duration of nearly 2 years presents moderate performance risk. 4. Fixed-price contract limits cost overrun risk for the government. 5. Geographic concentration in Colorado may limit broader market applicability. 6. No small business set-aside indicates a focus on larger, established providers.

Value Assessment

Rating: good

The contract value of $2.86 million over approximately 1907 days (roughly 5 years) translates to an average annual cost of about $572,000. This figure seems within a reasonable range for securing parking facilities for government employees in a metropolitan area, though specific local market rates for comparable facilities would provide a more precise benchmark. The firm fixed-price structure helps control costs, but the absence of detailed cost breakdowns makes a granular value assessment challenging.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition, indicating that multiple potential bidders were solicited. With 3 bidders identified, this suggests a healthy level of competition, which typically drives down prices and encourages better service offerings. The agency's choice of a full and open competition process is a positive sign for achieving fair market value.

Taxpayer Impact: Taxpayers benefit from the competitive bidding process, which is designed to ensure the government secures services at the most advantageous price possible.

Public Impact

Employees of the United States Mint in Denver, Colorado, will benefit from dedicated parking. The contract ensures the provision of parking services, a necessary amenity for government operations. The geographic impact is localized to Denver, Colorado, where the Mint facility is located. Workforce implications include ensuring employees have reliable access to their workplace.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Contract duration extends beyond typical annual appropriations, requiring careful monitoring of future funding needs.
Reliance on a single vendor for a critical service like parking could pose a disruption risk if the vendor fails to perform.

Positive Signals

The use of a firm fixed-price contract provides cost certainty for the government.
Full and open competition suggests a robust market exists for this service.
The contract is awarded to a company with a presence in the local market, potentially indicating familiarity with requirements.

Sector Analysis

The contract falls within the broader category of facilities management and real estate services, specifically focusing on parking. The market for parking services is often localized, with pricing heavily influenced by urban density, demand, and available infrastructure. While specific benchmarks for federal parking contracts are scarce, this award represents a modest investment in supporting federal employee infrastructure.

Small Business Impact

The contract was not set aside for small businesses, and there is no indication of subcontracting requirements for small businesses. This suggests that the primary award went to a larger entity or that the nature of the service did not lend itself to a small business set-aside. Further analysis would be needed to determine if any small business participation is occurring indirectly.

Oversight & Accountability

The contract is subject to standard federal procurement oversight. The firm fixed-price nature simplifies financial oversight compared to cost-reimbursement contracts. Transparency is maintained through contract award databases. The Inspector General for the Department of the Treasury would have jurisdiction over any potential fraud, waste, or abuse related to this contract.

Related Government Programs

Federal Employee Parking Facilities
US Mint Operations Support
Government Real Estate Leases

Risk Flags

Long-term contract duration may exceed current budget cycles.
Lack of detailed performance metrics in summary data.

Frequently Asked Questions

What is this federal contract paying for?

Department of the Treasury awarded $2.9 million to DENVER HS-EF COURT PLACE LLC. PROVIDE PARKING FOR USM-DN EMPLOYEES

Who is the contractor on this award?

The obligated recipient is DENVER HS-EF COURT PLACE LLC.

Which agency awarded this contract?

Awarding agency: Department of the Treasury (United States Mint).

What is the total obligated amount?

The obligated amount is $2.9 million.

What is the period of performance?

Start: 2021-03-11. End: 2026-05-31.

What is the track record of DENVER HS-EF COURT PLACE LLC in performing federal contracts?

Information regarding DENVER HS-EF COURT PLACE LLC's specific track record with federal contracts is not detailed in the provided data. A comprehensive review would require accessing contract performance databases and past performance reviews. However, the award of this contract suggests they met the minimum qualifications and were deemed capable of fulfilling the requirements. Further investigation into their history with similar parking or facility management contracts, especially with government entities, would be beneficial for a complete assessment of their reliability and past performance.

How does the per-unit cost of this parking contract compare to similar federal contracts in the Denver area?

The provided data does not include a specific per-unit cost metric that can be directly compared to other federal contracts. The total award amount of $2.86 million over approximately 1907 days is for the provision of parking services, likely encompassing a certain number of spaces or a dedicated facility. To benchmark effectively, one would need to identify comparable federal contracts for parking in Denver, ascertain the number of parking spaces or facility size, and then calculate a comparable per-space-per-day or per-space-per-month cost. Without this granular data, a direct per-unit comparison is not feasible.

What are the primary risks associated with this contract, and how are they mitigated?

The primary risks include potential vendor performance issues (e.g., service disruptions, inadequate maintenance) and the long-term funding commitment required for a contract spanning over five years. Mitigation strategies include the firm fixed-price structure, which limits financial risk for the government, and the competitive bidding process, which theoretically selects a capable vendor. Standard contract clauses for performance and termination also serve as risk mitigators. However, the long duration necessitates careful monitoring of the vendor's ongoing performance and the continued need for the service.

How effective is the full and open competition process in ensuring value for this specific parking contract?

The full and open competition process is generally considered effective in ensuring value for parking contracts by fostering a competitive environment among potential providers. With three bidders participating, it suggests that the market has multiple viable options, increasing the likelihood that the government secured a competitive price. The effectiveness is further supported by the firm fixed-price award type, which locks in costs. However, the ultimate measure of effectiveness would involve comparing the awarded price against independent market analyses or historical data for similar services.

What is the historical spending pattern for parking services by the United States Mint?

The provided data does not offer historical spending patterns for parking services by the United States Mint. To analyze this, one would need to review past contracts awarded by the Mint for similar services over several fiscal years. This would involve querying federal procurement databases for contracts related to parking, facility management, or real estate leases. Understanding historical spending would help determine if this $2.86 million award represents an increase, decrease, or stable level of investment in parking infrastructure compared to previous periods.

Are there any specific performance metrics or service level agreements (SLAs) outlined in the contract?

The provided summary data does not detail specific performance metrics or service level agreements (SLAs) within the contract. While the contract type is 'DEFINITIVE CONTRACT' and the price is 'FIRM FIXED PRICE,' the absence of explicit performance standards in this summary makes it difficult to assess how service quality will be measured and enforced. Typically, such contracts would include clauses regarding maintenance, security, accessibility, and operating hours. A thorough review of the full contract document would be necessary to identify any defined SLAs or performance benchmarks.

Industry Classification

NAICS: Other Services (except Public Administration) › Other Personal Services › Parking Lots and Garages

Product/Service Code: LEASE/RENT FACILITIES › LEASE/RENTAL OF BUILDINGS

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Solicitation ID: 2082AA21R00002

Offers Received: 3

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 1550 COURT PL, DENVER, CO, 80202

Business Categories: Category Business, Limited Liability Corporation, Not Designated a Small Business, Partnership or Limited Liability Partnership, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $2,861,850

Exercised Options: $2,861,850

Current Obligation: $2,861,850

Actual Outlays: $2,686,850

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Timeline