Title
Resolution Authorizing Agreements with Housing Consultants Group Totaling $101,000.00 For Homebuyer Counseling and Loan Processing For HousingConnect GSO and Guilford County Homebuyer Assistance Programs
Body
Council Priority: Maintain Infrastructure and provide Sustainable Growth Opportunities
Department: Neighborhood Development
Council District: All
Public Hearing: No
Advertising Date/By: N/A
Contact 1 and Phone: Stan Wilson, 336-373-2509
Contact 2 and Phone: Cynthia Blue, 336-433-7376
PURPOSE:
City Council is requested to consider a resolution authorizing professional services agreements with Housing Consultants Group totaling $101,000.00 to provide homebuyer counseling, loan underwriting and processing, and lender training for the HousingConnect GSO and Guilford County homebuyer assistance programs. The term is for 1 year with up to two additional one year extensions.
BACKGROUND:
The City conducted a request for proposals process for nonprofit housing counseling agencies certified by the U.S. Department of Housing and Urban Development (HUD) to provide homebuyer counseling, loan underwriting and processing, and lender training services for the City and Guilford County homebuyer assistance programs. Federal HOME program requirements limit counseling services to HUD-certified agencies.
The City’s HousingConnect GSO homebuyer assistance program served over 200 new homebuyers in fiscal year 2018-2019 utilizing federal HOME program and housing bond funds. The City and Guilford County have authorized an additional program that will utilize funding from the Guilford County HOME program grant funds through the HOME Program Consortium which is administered by the City of Greensboro. The program will assist new homebuyers in Guilford County outside the cities of Greensboro and High Point.
We anticipate that the selected provider will provide initial housing counseling sessions to up to 300 interested homebuyers, provide loan underwriting and processing services for up to 275 homebuyer closings, and provide quarterly lender training on loan package submittals and program processes.
The total award is for $101,000.00 for one year with up to two additional one year extensions.
There are no MWBE program goals for this contract and the MWBE waiver letter is attached.
BUDGET IMPACT:
$ 8,976.00 213-9116-01 Guilford County HOME Admin
$ 6,024.00 213-9117-01 Guilford County HOME Admin
$ 86,000.00 483-2201-06 City Workforce Housing Bond
$101,000.00
RECOMMENDATION / ACTION REQUESTED:
City Council is requested to authorize professional services agreements with Housing Consultants Group totaling $101,000.00 for a one year term, with up to two additional one year extensions, for homebuyer counseling, loan underwriting and processing services, and lender training for the HousingConnect GSO and Guilford County homebuyer assistance programs, and the City Manager is authorized to execute the agreements.