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DISCUSSION Hello Housing - Proposed Agreement for Fiscal Year 2018/19 Staff has been pleased with the quality and level of service provided by Hello Housing since January 2016, including the recently ended FY2017/18 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 will determine occupancy status and assist the City with resale compliance inquiries and issues as needed. 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. There will be no budget allocated for new BMR home sales in FY 2018/19 like there was for the ten (10) BMR homeownership units at the Summerhill "Andares" development during last FY 2017/18. The table below provides a summary of the scope of services and costs associated with the proposed professional services agreement with Hello Housing: Anticipated Hello Housing Activity/Service Area Price Per Number of /19 Activity Activities Budget Budget Annual Compliance Monitoring $145 91 $13,195 Setup of BMR Resale (marketing, timeline and pricing creation) $500 1 $500 Waitlist Creation and Management (per lottery) $4,600 1 $4,600 BMR Resale: Milestone 1 (all reviewed applicants) $850 8 $6,800 BMR Resale: Milestone 2 $1,450 2 $2,900 BMR Resale: Milestone 3 $1,725 2 $3,450 BMR Appeals - Program Manager Hourly Rate $100 4 $400 Inclusionary BMR Sale: Milestone 2 $1,450 2 $2,900 Inclusionary BMR Sale: Milestone 3 $1,725 2 $3,450 DPA Application Processing $750 2 $1,500 DPA Doc Prep & Closing for Loans $675 1 $675 Payoffs of DPA $460 1 $460 Refinances $750 4 $3,000 Subtotal: $43,830 Additional Services Contingency (10%): $4,383 Total Contract Budget: $48,213 Page 3of5