Title
Accounting and Auditing Services for the Housing Department's Affordable Housing Properties (Ordinance S-48422)
Description
Request to authorize the City Manager, or his designee, to enter into an agreement with Novogradac and Company LLP for Accounting and Auditing Services for the Housing Department's 17 affordable housing properties in an amount not to exceed $65,000. Further request to authorize the City Controller to disburse all funds related to this item. There is no impact to the General Fund.
Report
Summary
The Housing Department's Affordable Housing Program requires Accounting and Auditing Services from certified public accounting firms experienced with low-income housing tax credits and affordable housing properties on an annual basis. The City-owned portfolio consists of 17 multi-family housing properties with 1,270 rental units providing affordable housing to low- to moderate-income residents.
Procurement Information
RFP FY 22-086-03 Accounting Services - Affordable Housing Audit was conducted in accordance with Administrative Regulation 3.10. Three offers were received by the Housing Department on Nov. 19, 2021.
One proposal was determined to be non-responsive and the offeror was notified via a formal letter.
The other two proposals were evaluated in accordance with City Code 43-14 for Competitive Sealed Proposals by a team of four evaluators. A request and submission of best and final offers was conducted and the proposals were rescored.
The final scoring is:
Novogradac - 822 points; and
Citrin Coopermen - 760 points.
Staff recommends that the offer from Novogradac and Company LLP be accepted.
Contract Term
The contract term will begin on or about July 1, 2022, and end on June 30, 2027.
Financial Impact
The aggregate contract value will not exceed $65,000 (including applicable taxes). This contract is funded with U.S. Department of Housing and Urban Development funds. There is no impact to the General Fund.
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Housing Department.