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ITEM: AUTHORIZATION TO RENEW AN EXISTING AGREEMENT WITH COMMUNITY CHAMPIONS TO PROVIDE FORECLOSURE REGISTRY SERVICES
REQUEST: Authorization to renew contract #020-13/ED with Community Champions to provide foreclosure registry services to the Village.
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EXPLANATION: On May 28, 2013, the Village Council awarded a contract to Community Champions to provide the Village with foreclosure registry services. The initial term of the contract was for three years expiring on May 28, 2016 with two (2) additional one (1) year renewal options. Staff is recommending exercising the second and final renewal option, effective through May 28, 2018.
Under Community Champion's existing agreement, they are responsible for collecting the established registration fee of $150.00 for each foreclosed home. Community Champions then retains $100.00 of each registration fee collected, and remits $50.00 to the Village.
A total of 1,596 foreclosed homes have been registered since 2013 of which 417 are still active. A summary of revenue generated, since inception of the program in 2013, is summarized below:
Year
Revenue Generated
2013
$22,925
2014
$59,950
2015
$59,550
2016
$32,850
2017 (YTD)
$7,400
Total $182,674
Community Champions has provided foreclosure registry services to the Village since 2013 and is currently contracted with many government agencies nationally. Additionally, they possess over five years' experience in the development, implementation, and management of a foreclosed property registry database and on-line fee collection system.
Staff recommends renewing the existing agreement with Community Champions, to provide foreclosure registry services to the Village, for one additional year, effective through May 28, 2018.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: Revenue generating depending on foreclosure registration fees col...
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