Label
DPU072021PROMISEPAY
Utilities Administration
C. Geronimo (x2363)
Revised
Title
Authorizing the mayor to enter into a one-year pilot program agreement for Department of Public Utility accounts receivable collection services and customer affordability program management services; authorizing the expenditure of an amount not to exceed $310,000 from the Utilities Administrative Services Fund; waiving the competitive bidding requirements of T.M.C. 187; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Promise Network Inc. ("Promise") is a financial technology company that believes in supporting both public and private agencies and their customers. Promise works to implement cutting-edge technology to enhance agency efficiency and improve customer experience while enhancing the revenue of the public agency. Promise developed Promise Pay as the modern payment platform for public services. They work with utilities and other government agencies across the country. Their team employs modern user acquisition and engagement strategies to connect with customers and support them through the completion of their payment plans and/or affordability programs.
Promise's core products facilitate payments and grant disbursement on behalf of utilities and government agencies. Promise Pay payment plans provide customers an automated solution for adding flexibility and convenience to past due balances. Their portal allows their clients to rapidly distribute financial assistance grants from local, state and Federal sources, such as The Coronavirus Aid, Relief, and Economic Security (CARES) Act and Low-Income Water Assistance Program (LIWAP). Their third-party Pledge Portal gives Community Action Organizations and other partners access to relevant account information necessary to provide relief funds.
The fiscal impact of this ordinance is as follows:
- The total amount of funds requested: $310,000
- The expenditure budget line item: 6078-31000- 4000524STDS...
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