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4 <br /> THE CITY OF <br /> CITY COUNCIL AGENDA REPORT <br /> PLEASANTON, <br /> July 18, 2023 <br /> Community Development <br /> Housing <br /> TITLE: APPROVE PROFESSIONAL SERVICES AGREEMENTS WITH ECHO <br /> HOUSING AND BAY AREA AFFORDABLE HOMEOWNERSHIP ALLIANCE <br /> (BAAHA) FOR FIRST TIME HOMEBUYER PROGRAM ADMINISTRATION <br /> SERVICES FOR AN AMOUNT NOT TO EXCEED $125,000 (ECHO HOUSING) <br /> AND $225,000 (BAAHA) THROUGH JUNE 30, 2028 <br /> SUMMARY <br /> ECHO Housing has been providing homebuyer education services on behalf of the City <br /> since January 2016, and Bay Area Affordable Homeownership Alliance (BAAHA) has <br /> been administering the City's first-time homebuyer programs since May 2021. Both <br /> ECHO Housing and BAAHA were selected through a Request for Proposals (RFP) <br /> process to identify entities that could support administration and compliance monitoring <br /> for Pleasanton's below market rate (BMR) homeownership and first-time homebuyer <br /> loan programs. Both entities have been effective program administrators, and staff <br /> recommends the City enter into new professional services agreements with each <br /> organization to continue providing these essential homebuyer program administration <br /> services, for up to a period of five years. <br /> RECOMMENDATION <br /> Staff recommends the City Council.- <br /> 1. <br /> ouncil:1. Approve a Professional Services Agreement with ECHO Housing to provide <br /> first-time homebuyer education services for an amount not to exceed $125,000 <br /> through June 30, 2028; <br /> 2. Approve a Professional Services Agreement with BAAHA to provide first-time <br /> homebuyer program administration services for an amount not to exceed <br /> $225,000 through June 30, 2028; <br /> 3. Approve a budget amendment to appropriate $67,400 from the Lower Income <br /> Housing Fund to fund the agreements through June 30, 2024. <br /> FINANCIAL STATEMENT <br /> Approval of the two professional services agreements will result in a total appropriation <br /> of $67,400 in available funding from the City's Lower Income Housing Fund in FY <br /> 2023/24. Additional necessary appropriations in years two through five of the <br /> agreements will not exceed $70,000 of available funding annually from the Lower <br /> Income Housing Fund and will be included in the City's budget. <br />