Renewal Notice - Master Servicer U. S. Bank

The Illinois Housing Development Authority (IHDA) is proceeding with a contract renewal for U.S. Bank National Association as Master Servicer, specifically exercising the second renewal option under an existing contract. This procurement covers master servicer functions for housing development services, with the current renewal being part of a multi-year contract originally established through a competitive bidding process. The contract (bid number 24-551HDA-HMOWN-B-43636) involves comprehensive servicer responsibilities for housing programs within Cook County and the state of Illinois. The renewal represents a continuation of existing services without a new solicitation, with the contract term extending for an additional two years. The due date for finalizing this renewal is December 4, 2024, with the procurement process being managed by the State of Illinois Chief Procurement Office for General Services. Key objectives include maintaining continuous master servicer support for housing development initiatives, with the contract focusing on administrative and financial management services related to housing programs.

This contract renewal does not include any specific set-aside designations or restrictions for disadvantaged enterprises, with both Business Enterprise Program (BEP) and Veterans Business Program (VBP) utilization percentages set at 0%. The total contract value for this renewal period is $2,100,000, which is consistent with the previously established contract structure. The original contract had an initial four-year term valued at $4,200,000, with subsequent two-year renewal options each valued at $2,100,000. U.S. Bank National Association continues as the incumbent vendor, suggesting a proven track record of service delivery for the Illinois Housing Development Authority. The contract does not require integration with new infrastructure or technology, instead representing a continuation of existing service arrangements. The primary point of contact for this contract is Anna Harris from the Illinois Housing Development Authority, located in Chicago, who will oversee the contract renewal process.