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Council approve professional services agreements with both to continue providing these services for fiscal year 2017/18. DISCUSSION Hello Housing - Summary of Services Provided During Contract Term Over the past 18 months, Hello Housing has successfully met objectives set forth in its agreement with the City. Highlights include the following: • Digitizing the City's complete portfolio of Below Market Rate owners' paper-based files and Down Payment Assistance Program (DAP) loan files to Hello Housing's HomeKeeper database, a Salesforce-based database platform. There are currently 91 units in the City's homebuyer program portfolio. • Developing a Pleasanton-specific webpage on the Hello Housing website (http://www.hellohousing.org/stewardship/cityofpleasanton/) to provide resources and information for new, prospective buyers and existing homeowners in the PHAP. • Conducting an annual BMR and loan monitoring process to ensure the homes are owner-occupied in compliance with the City's restricted covenants and loan agreements. • For three (3) City-owned Below Market Rate properties (91 East Creek, 3917 Vineyard, and 214 Rocky Creek), developing and implementing the marketing process, performing the lottery to establish the priority list, identifying and working with eligible buyers, drafting loan documents, and coordinating the close of escrow to ensure the successful sale of these units to income-eligible first-time homebuyers. • Processing and closing two (2) refinances. • Processing an application and closing one (1) DAP loan. • Preparation of the Marketing and Sales Plan for the Summerhill "Andares" development, which will include ten (10) BMR townhomes at below-market-rate prices for income-eligible and qualified lower income first-time homebuyer households. Subject to the Council's approval of the Professional Services Agreement, implementation of the marketing and sales plan for the Andares BMR homes will be undertaken by Hello Housing in fiscal year 2017/18. Hello Housing - Proposed Agreement for Fiscal Year 2017/18 Staff has been pleased with the quality and level of service provided by Hello Housing over the prior 18 months and is proposing that Hello Housing continue to administer the Pleasanton Homeownership Assistance Program during the next fiscal year. Implementation of the proposed agreement will result in a continued high level of service to the public (both existing BMR owners as well as prospective first time homebuyers). In addition, the agreement is expected to create greater efficiencies for City staff and ensure a higher level of program compliance through more regular and systematic monitoring of current BMR owners. Exhibits A and B of the attached Professional Services Agreement outline in detail the scope of services to be provided over the coming fiscal year. 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 Page 3of7