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DISCUSSION Hello Housing In 2014, the cities of Livermore, Dublin and Pleasanton collaborated to issue a Request for Proposals (RFP) to identify agencies that could provide administration support and homebuyer counseling services for the City's Below Market Rate (BMR) Homeownership Programs and other First Time Homebuyer Programs which were previously provided by the Tri-Valley Housing Opportunity Center (TVHOC). Hello Housing was selected as the firm most qualified to provide the BMR administration services requested in the RFP. Both cities had previous history working with Hello Housing on processing first-time homebuyers through the Neighborhood Stabilization Program and in partnership on other housing development activities. Key enhancements in contracting for Hello Housing's services include greater efficiencies in conducting the City's marketing and selection process, expanded marketing and information distribution features through Hello's website, and enhanced customer service including an online application tool for prospective homebuyers. The proposed Professional Services Agreement would cover the term from 1/1/2016 through 6/30/2017 (i.e., the second half of FY 2015/16 and all of FY 2016/17). The agreement includes a one-time file on-boarding (i.e., digitizing) cost associated with the annual loan compliance monitoring, annual costs to monitor the City's existing loan portfolio, and fees for services to be provided as needed for the sale of BMR homes and other first time homebuyer program services. Annual monitoring costs included in the agreement are based on the total number of loans in the City's portfolio. As part of the monitoring services, Hello Housing will determine occupancy status and assist the City with resale compliance inquiries and issues as needed. The estimated budget for new BMR home sales, including administration of the City's applicant selection process ("lottery") is based on the number of BMR units anticipated to be sold (both new sales and resales) over the next 18 months (through 6/30/2017). BMR administration services include screening and qualifying prospective applicants according to the City's criteria, and interfacing on the City's behalf with buyers and mortgage lenders through the close of escrow. Other first time homebuyer services, including mortgage assistance program administration, have been included in the agreement on a variable, as-needed basis. The following table provides a summary of the scope and costs associated with the proposed professional services agreement with Hello Housing: Page 2