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program funds that will remain; that amount will not be enough to acquire and rehabilitate another housing unit. At this time, the BCC is to review the proposed Amended NSP 1 General Administration Contract, to make any necessary changes, and to approve, or deny the request. If the request is denied, the grant will still be closed out by Fred Fox Enterprises, Inc., as this is a requirement of the current agreement. ANALYSIS The proposed Amended NSP1 General Administration Contract between Indian River County and Fred Fox Enterprises, Inc. reflects the following changes to the original 2009 contract: 1. Recognizes that the County generated $1,695,639.41 in PI funds and used those PI funds to acquire, rehabilitate, and sell and/or lease an additional twelve (12) housing units; 2. Recognizes that Fred Fox Enterprises, Inc. provided at least 275 hours of additional grant administration services (based on the updated cost summary for negotiated contracts) related to the use of the extra $1,695,639.41 in PI funds and that those services were not originally anticipated to be provided by Fred Fox Enterprises, Inc.; 3. Provides for an additional allocation of up to $35,000 to Fred Fox Enterprises, Inc. for services rendered related to the PI funds payable after execution of the proposed amended grant administration contract; 4. Replaces references to DCA with DEO to recognize the change in the name of the State department having oversight of the NSP1 program; and 5. Removes or otherwise addresses outdated language. As proposed, the contract amendment will allow the County to utilize all or nearly all of its remaining NSP 1 funds currently being held by DEO to pay for unanticipated services rendered by the consultant. Those remaining funds are estimated to be approximately $35,000 after the remaining $50,000 of the original $200,000 grant administration contract amount owed to Fred Fox Enterprises is paid and after remaining County expenses are reimbursed by DEO. That $35,000 amount is not sufficient to purchase and rehab another housing unit. In fact, the least expensive housing unit obtained and rehabbed through the NSP 1 program required $88,027.42 in funds. According to DEO, if the County does not use its remaining NSP1 funds, those funds will no longer be available to the County after the grant is closed -out and will be returned to DEO. DEO is expected to release close- out procedures for NSP1 grants in the next couple of months. At that time, communities that have 3 142