Ventura Civicplus #P-130000896

Consultant Services for Administration of First-time Home Buyer Loans Program

The City of Ventura is seeking a qualified consultant to administer its Down Payment Assistance Program for first-time homebuyers. - Government Buyer: - City of Ventura, Purchasing and Contracts Division - OEMs and Vendors: - No specific OEMs or commercial vendors are named; the opportunity is for consulting services - Products/Services Requested: - Administration of the First-time Home Buyer Loans program - Includes marketing, outreach, application intake, lottery process, eligibility assessment, loan processing, underwriting, closing, records management, and quarterly reporting - Consultant must create and manage an online application portal - Compliance with California Department of Housing and Community Development PLHA grant requirements - Initial funding supports loans up to $130,000 each for two households, with potential expansion to six more if additional funding is received - Unique or Notable Requirements: - Mandatory pre-bid meeting - Strict records management and quarterly reporting - Ability to scale services if more funding becomes available - Loan terms: 2% simple interest, forgiven after 30 years if conditions are met - Consultant must handle all aspects of compliance and documentation

Description

The City of Ventura is seeking qualified consultants to submit proposals for the administration of first-time home buyer loans. The scope includes managing the entire loan cycle such as marketing, outreach, eligibility assessments, loan processing, and reporting in compliance with state regulations. The program supports down payment assistance loans up to $130,000 for eligible first-time home buyers who are city residents. The contract involves professional services to administer these loans funded by the City's 2023 grant allocation of Permanent Local Housing Allocation (PLHA) funds.

View original listing