HUD awards $172M contract to FIRST PRESTON MANAGEMENT, INC. for District of Columbia services

Contract Overview

Contract Amount: $172,010,858 ($172.0M)

Contractor: First Preston Management, Inc.

Awarding Agency: Department of Housing and Urban Development

Start Date: 2000-01-15

End Date: 2004-01-31

Contract Duration: 1,477 days

Daily Burn Rate: $116.5K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 51

Pricing Type: FIRM FIXED PRICE

Sector: Other

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20410

State: District of Columbia Government Spending

Plain-Language Summary

Department of Housing and Urban Development obligated $172.0 million to FIRST PRESTON MANAGEMENT, INC. for work described as: Key points: 1. Contract value of $172 million over 4 years. 2. Full and open competition was utilized. 3. Potential for significant taxpayer impact due to contract size. 4. Services are specific to the District of Columbia.

Value Assessment

Rating: fair

The contract value of $172 million over approximately 4 years suggests a substantial investment. Without specific service details or benchmarks, a precise pricing assessment is difficult. However, the duration and scale indicate a need for careful cost management.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The use of full and open competition is a positive indicator for price discovery. This method allows multiple vendors to bid, theoretically driving down costs and ensuring fair market pricing.

Taxpayer Impact: With a total award of $172 million, the efficient use of taxpayer funds is paramount. The competitive nature of the award is a good sign for cost-effectiveness.

Public Impact

Citizens in the District of Columbia may experience improved services due to this contract. The contract supports economic activity by engaging a private sector entity. Transparency in government spending is maintained through the competitive bidding process.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of specific service details makes value assessment challenging.
Contract duration could lead to cost overruns if not managed effectively.

Positive Signals

Full and open competition promotes fairness and potentially lower prices.
Award to a single entity suggests specialized capabilities.

Sector Analysis

This contract falls under general administrative or support services within the public sector. The $172 million award is significant, suggesting a large-scale, long-term requirement for the Department of Housing and Urban Development in the District of Columbia.

Small Business Impact

The data does not indicate whether small businesses were involved as subcontractors or prime contractors. Further analysis would be needed to determine the extent of small business participation.

Oversight & Accountability

The use of full and open competition suggests a structured procurement process. Oversight would focus on contract performance, adherence to terms, and financial accountability throughout the contract's lifecycle.

Related Government Programs

Department of Housing and Urban Development Contracting
Department of Housing and Urban Development Programs

Risk Flags

Lack of detailed service description.
Potential for cost escalation over the contract's duration.
Limited insight into contractor's past performance.
Unclear small business participation.

Frequently Asked Questions

What is this federal contract paying for?

Department of Housing and Urban Development awarded $172.0 million to FIRST PRESTON MANAGEMENT, INC.. See the official description on USAspending.

Who is the contractor on this award?

The obligated recipient is FIRST PRESTON MANAGEMENT, INC..

Which agency awarded this contract?

Awarding agency: Department of Housing and Urban Development (Department of Housing and Urban Development).

What is the total obligated amount?

The obligated amount is $172.0 million.

What is the period of performance?

Start: 2000-01-15. End: 2004-01-31.

What specific services are being procured under this $172 million contract, and how do they align with HUD's mission in the District of Columbia?

The provided data lacks specifics on the services rendered. However, given the agency (HUD) and location (District of Columbia), the contract likely pertains to housing assistance programs, property management, community development initiatives, or administrative support critical for HUD's operations within the nation's capital.

What were the key performance indicators (KPIs) established for FIRST PRESTON MANAGEMENT, INC., and how is performance being measured to ensure value for taxpayer money?

Specific KPIs are not detailed in the provided data. Effective oversight would necessitate clearly defined metrics related to service delivery, efficiency, and compliance. Regular performance reviews and audits are crucial to ensure the contractor meets contractual obligations and delivers value.

Given the contract's duration and value, what mechanisms are in place to prevent scope creep and manage potential cost increases over time?

Mechanisms to prevent scope creep and manage costs typically include strict change control processes, detailed contract terms, and regular budget reviews. The firm fixed-price structure aims to cap costs, but vigilant contract management is essential to monitor for any deviations or necessary adjustments.

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Offers Received: 51

Pricing Type: FIRM FIXED PRICE (J)

Contractor Details

Address: 5040 ADDISON CIR, ADDISON, TX, 90

Business Categories: Category Business, Small Business, Special Designations, U.S.-Owned Business, Woman Owned Business

Financial Breakdown

Contract Ceiling: $233,835,998

Exercised Options: $233,835,998

Current Obligation: $172,010,858

Timeline