HUD awards $54.7M contract to FIRST PRESTON MANAGEMENT, INC. for unspecified services
Contract Overview
Contract Amount: $54,727,502 ($54.7M)
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: $37.1K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 51
Pricing Type: FIRM FIXED PRICE
Sector: Other
Place of Performance
Location: ADDISON, DALLAS County, TEXAS, 75001
State: Texas Government Spending
Plain-Language Summary
Department of Housing and Urban Development obligated $54.7 million to FIRST PRESTON MANAGEMENT, INC. for work described as: Key points: 1. Contract value of $54.7M over 4 years. 2. Awarded via full and open competition. 3. No specific service details provided, limiting risk assessment. 4. Sector context is unclear due to lack of service description.
Value Assessment
Rating: questionable
Without knowing the services provided, it's impossible to assess if the pricing is competitive or represents good value. The benchmark is not applicable.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a robust price discovery process. However, the lack of service details makes it difficult to confirm if the competition effectively drove down costs for the specific needs.
Taxpayer Impact: Taxpayer funds are being utilized, but the specific impact on taxpayers cannot be determined without understanding the services rendered and their necessity.
Public Impact
Lack of transparency regarding the services procured raises concerns about accountability. Potential for funds to be used for non-essential or poorly defined services. Citizens cannot ascertain the direct benefit or purpose of this significant expenditure.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of service description
- Unclear purpose of contract
- Potential for misallocation of funds
Positive Signals
- Awarded through full and open competition
Sector Analysis
The sector for this contract is not specified, making it difficult to provide context or compare spending benchmarks. The nature of the services is crucial for sector classification.
Small Business Impact
The data indicates that small businesses were not a factor in this award, as the 'sb' field is false. Further analysis would be needed to determine if small businesses could have provided these services.
Oversight & Accountability
Oversight is challenging due to the absence of clear service descriptions. HUD's internal controls and post-award monitoring would be critical to ensure funds are used appropriately.
Related Government Programs
- Department of Housing and Urban Development Contracting
- Department of Housing and Urban Development Programs
Risk Flags
- Lack of transparency in service description
- Potential for undefined scope creep
- Difficulty in performance monitoring
- Unclear value proposition for taxpayers
Tags
department-of-housing-and-urban-developm, tx, dca, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Housing and Urban Development awarded $54.7 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 $54.7 million.
What is the period of performance?
Start: 2000-01-15. End: 2004-01-31.
What specific services were procured under this contract, and how do they align with HUD's mission?
The provided data does not specify the services procured. This lack of detail prevents an assessment of their alignment with HUD's mission to create strong, sustainable, inclusive communities. Understanding the services is paramount to evaluating the contract's value and effectiveness.
What risks are associated with awarding a $54.7M contract without clearly defined services?
The primary risk is the potential for misuse of funds, lack of accountability, and failure to achieve intended outcomes. Without defined services, it's difficult to measure performance, ensure quality, or verify that the contract meets a genuine need, leading to potential waste.
How can the effectiveness of this contract be measured given the lack of service details?
Measuring effectiveness is severely hampered without knowing the services. Typically, effectiveness is gauged against predefined objectives and performance metrics tied to the services. In this case, without that information, effectiveness can only be broadly assessed by whether the funds were spent without apparent fraud.
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: $87,821,344
Exercised Options: $87,821,344
Current Obligation: $54,727,502
Timeline
Start Date: 2000-01-15
Current End Date: 2004-01-31
Potential End Date: 2004-01-31 00:00:00
Last Modified: 2011-04-01
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