Explanation
BACKGROUND: This legislation will authorize additional funds for the second year of a two-year contract with AmeriNational Community Services, Inc. The current contract began February 1, 2004 and expires on February 28, 2006. This contract provides servicing of housing and commercial loans under the Community Development Block Grant (CDBG) Program and the Home Investment Partnership (HOME) Program. Competitive bids were solicited for this service in December of 2003. The original RFP contemplates additional two-year contract periods.
FISCAL IMPACT: AmeriNational Community Services, Inc. receives a service fee based upon the loans serviced each month. The total amount to be authorized for the second year of the 25-month contract is $238,841.00. City council authorized the appropriation of Community Development Block Grant funds on January 26, 2005 via ordinance #0041-2005.
This legislation is submitted as an emergency measure to insure uninterrupted servicing of the loan portfolios
Title
To authorize the director of the Department of Finance to expend $238,841.00 from the Community Development Block Grant (CDBG) program to fund the second year of a two year contract with AmeriNational Community Services, Inc. which provides servicing of housing and commercial loans for the CDBG and Home Investment Partnerships Grant (HOME) programs; and to declare an emergency. ($238,841.00)
Body
WHEREAS, it is desirous to provide the funds for the second year of the two year agreement entered into with AmeriNational Community Services, Inc. for the servicing of housing and commercial loans under the CDBG and HOME programs; and
WHEREAS, the city has entered into a two year contract with the funding for the second year of the contract being contingent on the approval and appropriation of funds by City Council; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Finance, in that it is immediately nec...
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