2012-078 RES ACCEPTING PROPOSAL FROM PARIS LIVING FOR MANAGEMENT SERVICES FOR HOMEBUYER ASSISTANCE PROGRAM

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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 Licensing System and Registry. We have included, in this packet, a biography of Mr. Hunter for your review. C�rrently, Paris Living is administering a first time homebuyer program futaded through TDHCA Reservation Systern Pro�am which will create new low income homeowners in Lamar County (including the City of Paris), Red Rivex County, Fannin and Delta County. To accomplish this task, we have entered into verbal agreements with other local agencies including the City of Paris, Paris Housing Authority, Keep Paris Beautiful and Paris Habitat for Humanity. � As autlined in the Proposed Scope of Work listed below, we anticipate providing the City with a tumkey operation of its homebuyer assistance program. The services we propose for the project include: affinmative marketing, application intake, Iender coordination, individua2 loan iile review and approvai, coordination of homebuyer counseluzg, coordination and oversight of the required minimum property code inspections, assistance with financial management, record keeping, coordination with local title companies, project d�ument preparation coordination, administrative and project envimnmental reviews, on-site client representation durin� state monitoring visits, individual file maintenance, project close-out assistance, and other assistance as required by ihe City to fulfilt its obligations with TDHCA. Propnsed Scope of Work The following is our proposed work product for each of the categories listed in the Request for Proposals. ➢ Project Msnagement • In general, Paris Living will completely manage the HOME Program award for the City including record keeping, file maintenance, submission of documentation to TDHCA, preparation and submission of all required reports and will serve as liaison for the City during any monitoring visit of TDHCA ar HtJD staff. In addition to any City staff that may be required to attend, representatives of Paris Living will attend any and alI TDHCA required grant implemcntadon training. ➢ F[nancial Management • The HOME Program is a total reimbursement program. That is, funds have to be advanced by the City to the closing table and aRer the Ioan has closed, then the Cily will be reimbtused by TDHCA for its expendit�u�es, Because this program is a reimbursement progam, no separate banking accounts need to be maincained• However, a written journal of ezpenditures and reimbursexnents including receipts must be kept by the City. We will review the loan files before closing and will notify the individual whom the Gity has identified as responsible for funds transfer and approve the transfer of funds to the title company. We will maintain a file record of the cashier's check or transfer of funds to the Title Company if the City Qrovides that infonnation to us. The file wili ulso have copies of pertinent invoices related to the closings. Paris Living will interface with TDHCA on the City's behalf regarding reimbursement issues and will keep the City informed of any and all pmblems of expenditure reimbursement. ➢ Record keeping • Our contracted consultant has been trained in State and federal record keeping requirements as they relate to the Homebuyer Assistance Program. Paris Living will maintain all individual loan files and the dacuments therein for review by the City and TDHCA. Paris Living wil! create all set up and draw documents for each loan for signature and appraval by the