Explanation
BACKGROUND: This legislation will authorize funding for the first year of a two-year contract with AmeriNational Community Services, LLC This contract will begin March 1, 2016 and expire on February 28, 2018. This contract provides servicing of housing and commercial loans for primarily the Community Development Block Grant (CDBG), 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 Community Services, LLC).
Vendor has applied for an updated Contract Compliance Number from the Equal Business Opportunity Office.
This legislation is submitted as an emergency measure to ensure uninterrupted servicing of the loan portfolios.
FISCAL IMPACT: AmeriNational Community Services, LLC receives a service fee based upon the loans serviced each month. The total amount to be authorized for the first year of this two-year contract is $103,753.17. NSP-1 Grant funds were appropriated on January 26, 2009 (Ordinance #0007-2009), and NSP-2 Grant funds were appropriated on June 7, 2010 (Ordinance #0800-2010).The amount of funds spent on the contract for the past two completed terms was approximately $92,715 in 2013 and $106,740 in 2014.
Title
To authorize the director of the Department of Finance and Management to expend $103,753.17 or so much thereof as may be necessary from the Community Development Block Grant (CDBG) and Neighborhood Stabilization Program (NSP) grants; to authorize the Director of Finance and Management to enter into a contract with AmeriNational Community Services, LLC; to fund the first year of a two-year contract with AmeriNational Community Services, LLC which provides servicing of housing and commercial loans; and to declare an emergency. ($103,...
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