Title
Consider a resolution authorizing the Mayor to execute an Amendment to the ERAD-Recovery Agreement for Electronic Recovery and Access to Data software.
Body
The city contracted with the ERAD Group in 2020 (city manager item No. CM-2020-214) to provide the Police Department's White Collar Crimes Unit with the ability to extract and summarize data from stolen credit cards and allow the seizure of fund balances when such cards are used in illegal activity. The nature of such investigations and the federal rules regarding asset forfeitures preclude the Department from forecasting seizures and the ancillary fees this amendment would cost the Department. The amendment allows the company to charge 3 percent of the seizure amount when it processes such cards; the cost would be paid out of seizure proceeds. The original contract is $3,000. The contract amendment allows the company to recover fees it pays to prepaid card companies when processing large seizures.