Memorandum
Date: January 10, 2023
To: The Honorable Lake County Board of Supervisors
From: Crystal Markytan, Director, Social Services
Subject: Approve Contract between County of Lake and Adams Ashby Group for HOME and CDBG Loan Portfolio Management Services in the amount of $50,000, from January 1, 2023 to December 31, 2024, and authorize the Chair to sign.
Executive Summary:
The County currently has a HOME Investment Partnerships (HOME) and Community Development Block Grant (CDBG) loan portfolio containing 56 active loans. Each loan requires continuous staff time dedicated to ensuring compliance with Housing and Community Development (HCD) and Department of Housing and Urban Development (HUD) guidelines and regulations. Unfortunately, the Housing division, currently under Social Services, does not have the resources or staff available to ensure loans are current and compliant, and over the past 3 years, Adams Ashby Group has helped to increase the compliance of the County's loan portfolio. Adams Ashby Group manages multiple portfolios for other County and City governments and has extensive experience organizing portfolios, providing assistance and support to borrowers, and creating and maintaining compliance within the portfolio.
In accordance with County Ordinance 3109, Social Services requested quotes from multiple agencies earlier in the year, and Adams Ashby Group was the only agency to submit a quote. Pricing remains the same as the previous Contract amount.
If not budgeted, fill in the blanks below only:
Estimated Cost: __$50,000__ Amount Budgeted: _$50,000_ Additional Requested: ________ Future Annual Cost: ________
Purchasing Considerations (check all that apply): ? Not applicable
? Fully Article X.- and/or Consultant Selection Policy-Compliant (describe process undertaken in "Executive Summary")
? Section 2-38 Exemption from Competitive Bidding (rationale in "Executive Summary," attach documentation, as needed)
? For Technology Purchase...
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