City of Columbus - File #: 0995-2017

• File #: 0995-2017
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 4/6/2017
• In control: Housing Committee
• On agenda: 5/1/2017
• Final action: 5/4/2017
• Title: To authorize the director of the Department of Finance and Management to expend $102,463.00 or so much thereof as may be necessary from the Community Development Block Grant Fund (CDBG) and the Neighborhood Stabilization Program (NSP) grants; to fund the second year of a two-year loan servicing contract with AmeriNational Community Services, Inc.; to authorize the appropriation and expenditure of an additional $6,000.00 of Neighborhood Stabilization Program (NSP 2) program income; and to declare an emergency. ($102,463.00).

Date	Ver.	Action By	Action	Result
5/4/2017	1	CITY CLERK	Attest
5/3/2017	1	MAYOR	Signed
5/1/2017	1	COUNCIL PRESIDENT	Signed
5/1/2017	1	Columbus City Council	Approved	Pass

Explanation

BACKGROUND: This legislation will authorize additional funds for the second year of a two-year contract with AmeriNational Services, Inc. The current contract began March 1, 2016 and expires on February 28, 2018. The contract provides servicing of housing and commercial loans for primarily the Community Development Block Grant (CDBG), Community Development Block Grant Recovery (CDBG-R) Programs, Home Investment Partnership Program (HOME), and the Neighborhood Stabilization Program (NSP) grants.

Competitive bids were solicited for this service through VendorServices (commodity codes 94660 and 94649) in 2011. The 2011 Mortgage Loan Servicing RFP provides for four two-year contract periods.
One firm responded and was selected (AmeriNational Services, Inc).
Contract Compliance Number is 41-1951655 and expires February 18, 2018.

This legislation also authorizes the appropriation and expenditure of an additional $6,000 of Neighborhood Stabilization Program (NSP 2) program income. Funds are needed to service loans from activities associated with the Neighborhood Stabilization Program (NSP 2) through the City of Columbus’ loan servicer, AmeriNational Services, Inc.

This legislation is submitted as an emergency measure to ensure uninterrupted servicing of the loan portfolios.


FISCAL IMPACT: AmeriNational Services, Inc. receives a service fee based upon the loans serviced each month. The total amount to be authorized for the second year of this two-year contract is $102,463. NSP-1 grant funds were appropriated on January 26, 2009 (Ordinance #0007-2009), and CDBG funds were appropriated on January 12, 2017 (Ordinance #3336-2016). The City of Columbus receives program income from prior investments of NSP 2 funds in various homeownership housing development projects. This ordinance authorizes the appropriation and expenditure of $6,000 of receipted program income. The amount of funds spent on the contract for the past two completed terms was approxima...