Title
Human Services Department recommending Chairman be authorized to sign application and nonstandard Agreement 213-S0910 with TransUnion LLC in the amount of $1,000 for credit reporting services for the County’s Housing Rehabilitation, First Time Homebuyer and Economic Development loan programs.
RECOMMENDED ACTION: Approve.
FUNDING: State grant funds.
Body
BUDGET SUMMARY:
Total Estimated Cost $1,000.00
Funding
Budgeted $1,000.00
New Funding $
Savings $
Other $
Total Funding Available $1,000.00
Change To Net County Cost $
Fiscal Impact/Change to Net County Cost: No change. The Agreement is funded through current Community and Economic Development Block Grants #05-STBG-1407 and #06-EDBG-2767 and the Housing and Economic Development Revolving Loan Funds.
Background:
Reason for Recommendation:
The Department of Human Services provides Housing Rehabilitation, Housing Acquisition and Economic Development loans to qualified applicants to make repairs to an existing home, purchase a home, establish a new business or expand an existing business. Credit analysis is an important aspect of determining an applicant’s eligibility for a loan in these programs. Currently, applicants submit an application packet that includes, among other information, verification of income, assets and liabilities. Credit reports are an important tool used to verify the liabilities and credit worthiness of the applicant. Currently these reports are received directly from the household at time of application. Obtaining credit reports directly from TransUnion LLC would ensure the integrity of the information received by removing the applicant from the credit report process. Copies of the Blue Route, TransUnion Customer Application, Master Agreement and Addendum for Access via TransUnion DeskTop are attached and on file with the Board Clerk.
Action to be taken following Board approval:
Board Clerk to provide Hum...
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