Explanation
BACKGROUND: This legislation will authorize a contract with AmeriNational Community Services, Inc. The contract will begin March 1, 2006 and expire on February 28, 2008. This contract provides servicing of housing and commercial loans under the Community Development Block Grant (CDBG) Program and the Home Investment Partnership Program (HOME). Competitive bids were solicited for this service in December of 2003. The original RFP provides for four 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 first year of this two year contract is $190,000.00. City council authorized the appropriation of Community Development Block Grant funds on January 23, 2006 (Ordinance # 0099-2006).
This legislation is submitted as an emergency measure to ensure uninterrupted servicing of the loan portfolios.
Title
To authorize and direct the Director of the Department of Finance and Management to enter into a two year agreement with AmeriNational Community Services, Inc. for the servicing of housing and commercial loans under the Community Development Block Grant (CDBG) and Home Investment Partnership Grant programs; to authorize the expenditure of $190,000 or so much thereof as may be necessary of CDBG funds; and to declare an emergency. ($190,000.00)
Body
WHEREAS, it is desirous to provide the funds for the first year of a two year contract with AmeriNational Community Services, Inc. for the servicing of housing and commercial loans under the CDBG and HOME programs; and
WHEREAS, the city will enter into a two year contract with the funding for the last 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 and Management in that it is immediately necessary to ent...
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