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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 and prospective first time homebuyers). The agreement will also continue to ensure a higher level of program compliance through the 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. The Program Administration Fee will guarantee that trained and dedicated Hello Housing staff are available to perform the Variable Activities outlined in the table below. The 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. There will be no budget allocated for new BMR home sales in FY 2019/20 as no new BMR homeownership units are anticipated this fiscal year. The proposed Variable Activities are structured primarily on BMR resales and refinances. The table below provides a summary of the scope of services and costs associated with the proposed professional services agreement with Hello Housing: Hello Housing Activity/Service Area FY2019/20 Price Per Activity Budget Program Administration Fee (80% of projected $30,180 Variable Costs) $24,144 Fielding Calls $250 per month $3,000 Annual Compliance Monitoring— BMRs (96 accounts) $165 per household $15,840 Annual Compliance Monitoring— DPAs (4 accounts) $165 per household $660 Total Fixed $43,644 Variable Activities Setup of BMR Resale (marketing, timeline and pricing creation) $1,000 per resale $2,000 BMR Resale: Waitlist Creation and Management $5,000 per resale $10,000 BMR Resale: Milestone 1 (Initial Qualification, Pre-approval) $850 per applicant $5,100 BMR Resale: Milestone 2 (Final Approval) $1,500 per applicant $3,000 BMR Resale: Milestone 3 $1,750 per closing $3,500 Appeals $125 per hour $250 Refinances $850 per refinance $2,550 Payoffs of DPA $400 per payoff $800 Demographic Survey& Report $15 per household $1,530 Restructure of DPA Program (allowance) $145 per hour $1,450 Total Variable $30,180 Total Fixed (Contract Minimum) 43,644 Balance of Variable not covered by Program Administration Fee $6,036 Total Contract $49,680 10% Contingency $4,968 Contract Cap $54,648 Page 3of5