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 March 1, 2014 and expires on February 28, 2016. 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.
This ordinance is contingent upon the passing of Ordinance 0256-2015 CDBG Appropriation.
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, Inc).
Contract Compliance Number is 41-1951655 and expires November 22, 2015.
This legislation is submitted as an emergency measure to ensure uninterrupted servicing of the loan portfolios.
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 this two-year contract is $118,260. This ordinance is contingent upon the passage of the CDBG appropriation (Ordinance #0256-2015) scheduled to appear before council on 2/2/2015. 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 $108,912 in 2012 and $92,715 in 2013.
Title
To authorize the director of the Department of Finance and Management to expend $118,260.00 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 ...
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