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THE CITY OF i I ,eel CITY COUNCIL AGENDA REPORT pLEASANTON. December 15, 2015 City Manager TITLE: APPROVE PROFESSIONAL SERVICES AGREEMENTS WITH HELLO HOUSING AND ECHO HOUSING FOR FIRST TIME HOMEBUYER PROGRAM ADMINISTRATION SERVICES AND EDUCATION SERVICES FOR JANUARY 2016 THROUGH JUNE 2017 SUMMARY In 2014, the City collaborated with the cities of Livermore and Dublin to issue a Request for Proposals to identify agencies that could support administration and compliance monitoring for their respective below market rate homeownership and first-time homebuyer loan programs. A similar process was conducted in 2015 to identify agencies that could provide homebuyer education services. Hello Housing and ECHO Housing were identified as the agencies most qualified to provide these services. The proposed Professional Services Agreement with Hello Housing includes annual, ongoing compliance monitoring activities for the City's existing loan portfolio and variable, "as-needed" services to assist with qualifying applicants for new and resale units sold through the Pleasanton Homeownership Assistance Program (PHAP). The proposed agreement with ECHO Housing includes homebuyer counseling services, workshops, coordination of first time homebuyer assistance and outreach and marketing of the cities' first time homebuyer and affordable housing programs. RECOMMENDATION Adopt the attached resolution: 1. Approving the professional services agreements with Hello Housing to provide first time homebuyer program administration services for an amount not to exceed $77,908 for the period from January 1, 2016, through December 31, 2017; 2. Approving the professional services agreements with ECHO Housing to provide first time homebuyer education services for an amount not to exceed $82,500 for the period from January 1, 2016, through December 31, 2017; 3. Authorizing the City Manager to execute the subject agreements; and 4. Amending the Operating Budget by appropriating $160,408 from the Lower Income Housing Fund ($66,715 in FY 2015/16 and $93,693 in FY 2016/17) to cover the cost of the services. FINANCIAL STATEMENT Approval of the two professional services agreements will result in a total expenditure of $160,408 from the City's Lower Income Housing Fund (LIHF) in fiscal years 2015/16 and 2016/17. The LIHF currently has a balance of approximately $16 million. Both agencies will be directed to seek future funding through the City's Housing and Human Services Grant (HHSG) program after the agreements expire at the end of FY 2016/17.