16-MOTION TO APPROVE PROPOSAL FROM PARIS LIVING INC TO PROVIDE MANAGEMENT SERVICES FOR HOMEBUYER ASSISTANCE PROGRAM

Home Browse Search

City and Paris Living in relationship to an agreement between our two organizations. Mr. Hunter is a licensed mortgage loan originator through the Nationwide Mortgage Liccnsin$ System and Registry. We have included, in chis packet, a biography of Mr. Hunter for your review. Ctirrently, Paris Living is admiuistering s first time homebuyer program funded thmuP,h TDHCA Resen+ation System Program which will create new low income hoct►eowners in Lamar County (including the City of Paris), Red River Connty, Fannin and Delta County. T'o accomplish this task, we have enteced into verbal agreements with other local ageneies including the City of Paris, Paris Housing Authority, Keep Paris Beauuful ar►d Paris Habitat fur Humaniry. As outlined in the Proposed Scope of Work listed below, we anticipate providing the City with a turnkey operation of its homebuyer assistance program. "The services we propose for the project include: affirmative marketing, application intake, Iender coordination, individual loan file review and approval, coordination of homebuyer counseling, coordination ando~rsig~h~t id the required minimum property code inspections, assistanco with financial manag~ keeping, coordination with local title companies, project document preparation coordination, administrative and project environmental reviews, on-site client represer►tation during state monitoring visits, individual file maintenance, pro]~t close-out assistance, and ather assistance as required by the City to fulfill its obligations with TDHCA. Proposed Scope of Work The following is our proposed work product for each of the categories listed in the Request for Proposals. ➢ Project Management • In general, Paris Living will completely manage the HOME Program award for the (;ity including record keeping, file maintenance, submission of documentation to TDHCA, preparation and submission of all required reports and will serve as liaison f tha~ma~bo any monitoring visit of TDHCA or HUD staff. in addition to any City staff y' required to attcnd, representatives of Paris Living will attend any and a11 TDHCA required grant implementation training. ➢ Financial Mauagement The HOME Program is a totai reimbursemem program• That is, funds have to be advauiced by the City to the closing table and after the loan has closeci, thea the Cily will be reimbursed by TDHCA for ifs expenditures• Because this program is a reimbursement program, no separatc banking accounts need to be maintained• However, a written journal of expendiwres and reimbursements including receipts must be kept by the City. We will revicw the loan files before closing and will notify the individual whom the City has identified as responsible for funds transfer and approve the transfer of funds to the title company. We w'sll maintain a file record of the cashier's check or transfer of funds to the Title Company if the City provides that information to us. The file will also have copies of pertinent invoices related to the closings. reimbursementnt issues Paris Living will interface wi#h TDHC nd all h f regarding and will keep the City informed of any Problems o ➢ Record keeping . pur contracted consultant has been trained in State and federal record keeping raluireinents as ttiey rclate to the Flomebuyer Assistance Progrur►• Paris Living will maintain all individual loan files and the documents therein for review by the City and TDHCA. Paris Living will create all sat up and draw dacuments for eaeh toan for signature and approval b;y the 99