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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A THIRD AMENDMENT BETWEEN THE CITY OF POMPANO BEACH AND PENN CREDIT CORPORATION RELATING TO SPECIALIZED DEBT COLLECTION SERVICES; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
staffcontact
(Staff Contact: Andrew Jean-Pierre)
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Summary Explanation/Background:
The City currently utilizes the services of Penn Credit as its collection agent for the collection of various delinquent accounts, including, but not limited to utilities, nuisance abatement, unsafe structure accounts, code compliance, stalls and parking citations. Staff is recommending that the City approve and authorize the execution of a third amendment to the Agreement to extend the contract for one year. Please refer to Finance Department Memo 17-71 for additional information.
Origin of request for this action: Finance Department
Fiscal impact and source of funding: Penn Credit assesses a 17% collection fee, on a contingent basis, for non legal referral accounts and 27% for litigation referral accounts, which is further passed on to the debtor.