The proposed bill seeks the Council's approval for a contract with AmeriNational Community Services, LLC (d/b/a AmeriNat) for loan servicing and related services for the Department of Housing and Community Development (DHCD). The contract, identified as CW119169, has a not-to-exceed amount of $2,299,472 and will be effective from December 5, 2024, through December 4, 2025. AmeriNat will provide various services, including loan collection, audit review, cash flow analysis, and foreclosure services for eleven housing assistance and rehabilitation programs. The contract is structured as a requirements contract with fixed unit prices and a cost-reimbursable component, and it includes a subcontracting plan designating The Coles Group LLC to perform 35% of the total contract amount.

Additionally, the bill outlines the responsibilities of the contractor, including maintaining a comprehensive loan services database, preparing monthly reports, and ensuring compliance with federal and local regulations. It emphasizes the importance of accurate record-keeping and timely reporting, particularly regarding loan delinquencies and foreclosure actions. The bill also incorporates provisions for subcontracting, requiring that at least 35% of the contract's dollar volume be subcontracted to qualified small business enterprises. Furthermore, it establishes insurance requirements for contractors and introduces a new process for resolving disputes, ensuring that the contract remains compliant with the District's regulations while promoting transparency and accountability in the management of housing assistance programs.