DATE: June 6, 2017
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Agreement with AmeriNat for Loan Portfolio Management Services
RECOMMENDED ACTIONS:
TITLE
1. Approve and authorize Chairman to execute Agreement with AmeriNational Community Services, LLC., dba AmeriNat, to provide loan portfolio management services for the Affordable Housing Programs and Fa?ade And Commercial Enhancement Program ($275,000);
2. Authorize the Director of the Department of Public Works and Planning, or his designee, to execute all related documents necessary for implementing portfolio management services, including any amendments thereto, subject to review of County Counsel and Auditor-Controller/Treasurer-Tax Collector.
REPORT
This action recommends awarding the contract to AmeriNat for Loan Portfolio Management Services in response to Request for Proposal 17-063, and authorizes the Chairman to execute an Agreement with AmeriNat, the recommended vendor deemed the most responsive, responsible bidder. The Agreement is to provide loan portfolio management services (loan servicing) for the County's loans under its Affordable Housing Programs (AHP) and Fa?ade And Commercial Enhancement Program (FACE). The recommended Agreement is a three year contract with two potential one-year renewals subject to written authorization based on satisfactory performance and funding availability.
ALTERNATIVE ACTION:
If the recommended actions are not approved, no loan portfolio management services will be provided. This would jeopardize the County's ability to manage loan repayments consistent with Federal grant regulations.
FISCAL IMPACT:
There is no Net County Cost associated with this item. The Agreement provides funding of approximately $55,000 for each year of the three-year contract, for a total of $165,000. The recommended Agreement is a three-year contract, with two potential one-year renewals subject to written aut...
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