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Basis for estimating additional hours/work performed In February 2009, Fred Fox Enterprises, Inc. entered into a contract with Indian River County, in the amount of two hundred thousand dollars ($200,000.00), to carry out the administration of Indian River County's NSP -1 program, the fee which was negotiated for the administration of the original NSP -1 contract between the Florida Department of Community Affairs (DCA) and Indian River County in the amount of $4,680,825.00. At that time, DCA, the state agency overseeing the program, had advised the County that all program income would be returned to DCA for redistribution to all eligible communities at a later date. The administration of any Program Income received by the County in the NSP -1 project was not included in the County's original administrative contract with Fred Fox Enterprises. In March 2010, DCA revised their position concerning program income and advised all recipients, including Indian River County; program income could be retained by the County and expended on NSP eligible activities. Based upon the County's NSP -1 financials, to date, Indian River County has received $1,695,639.41 in program income from the sale of twenty-seven (27) housing units. Of that amount, $1,683,923.76 has been expended. The County has utilized the program income funds to purchase, renovate and sell or lease twelve (12) additional housing units. The acquisition, renovation and sale or rental of each of these twelve (12) additional housing units acquired by Indian River County utilizing NSP -1 program income funding required Fred Fox Enterprises, Inc. to complete the following for each additional property: • Prepare a "Site Specific Environmental Review'' for each of the twelve (12) additional properties and submit the "Site Specific Environmental Review" to DCA or the Department of Economic Opportunity (DEO) for approval; • Keep a separate set of financial records for the expenditures for each of the twelve (12) additional properties; • Review and approve the contractor's payment request for inclusion of all required forms for twelve (12) additional properties; • Prepare the contract packages for the resale of nine (9) additional resale properties; • Perform two sets of annual inspections on three (3) additional rental properties; • Review tenant eligibility on three (3) additional rental properties; and • Incorporate the twelve additional properties in the monthly, semi-annual and annual reports for the program required by the state. 25 169