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Firm Continues to Implement Program to Help Restore
Louisiana Housing Infrastructure
FAIRFAX, VA, October 19,
2006 – ICF International
(Nasdaq: ICFI) announced today that it was awarded,
through its subsidiary ICF Emergency Management
Services, LLC, the second and third phases of its
Housing
Program Management Services contract for the
State of Louisiana's Office of Community Development (OCD).
This new funding brings the total value of this
engagement, which is expected to extend for three
years, to US$756 million, inclusive of the previously
announced US$87 million first phase. Under these
next two phases, the ICF team will continue to
process applications and provide housing counseling
and assistance to qualified homeowners and small
rental unit landlords affected by Hurricanes
Katrina and Rita. The contract funding, which
is expected to support some 800 staff at the
Program's peak, will continue to provide for
hiring and training; leasing, establishing, and
maintaining housing assistance centers; building
the information technology infrastructure for
processing the applications and subsequent data
verifications; staffing and maintaining a full-service
call center; and funding the Program’s
outreach.
In the first, four-month phase of the contract,
the ICF team hired more than 400 employees to establish
the Program, 95 percent of whom are from Louisiana
and many of whom were hurricane victims themselves.
The team opened ten new housing assistance centers
throughout the State as well as a project office
headquarters, established a full-service call center
which has fielded more than 100,000 calls weekly,
received more than 68,000 applications, and held
more than 10,000 appointments with affected homeowners.
"We met or exceeded the deadlines established
for the first phase of the Program and are pleased
that we were able to accomplish our goals, while
simultaneously hiring hundreds of employees and
teaming with numerous firms from within the State.
We will continue to work diligently to ensure that
the funds required to manage the Program primarily
provide jobs, infrastructure, and enhanced skills
for the people of Louisiana," says Michael
Byrne, an ICF senior vice president and chief program
executive.
"The State estimates that nearly 123,000
residents are eligible for the rebuilding grant
monies allocated for homeowners. In the second
and third phases, we expect to double local hiring
and team with an even greater number of local firms.
We are honored to play such an important role in
helping displaced residents rebuild their communities,"
added Byrne.
The ICF team includes the Louisiana-based firms
Deltha Corporation, First American Title Insurance
Company of Louisiana, Franklin Industries, Jones
Walker, Network Technology Group, Peter A. Mayer
Advertising, Providence Engineering & Environmental
Group, and Shaw Environmental.
Other key members with a significant presence
in Louisiana include Quadel Consulting and West
Telemarketing.
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ICF International (Nasdaq: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, environment, transportation, social programs, defense, and homeland security markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 1,800 employees serve these clients worldwide. ICF’s Web site is http://www.icfi.com.
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For Immediate Release
Contact: Douglas Beck
1.703.934.3820
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This press release may contain
forward-looking statements that reflect our current
expectations regarding the services we will provide
under the contract with the State of Louisiana's
Office of Community Development (OCD) and the
outcome of the services rendered to OCD. Words
such as “will,” "expect,” and
similar words or phrasing, identify forward-looking
statements. These statements are not guarantees
and involve risks and uncertainties that could
cause actual results to differ materially from
those anticipated in the forward-looking statements.
These risks and uncertainties include, but are
not limited to: the fact that funding under the
contract is not guaranteed; risks related to our
actual performance of services under the contract;
risks related to our costs of performance, especially
as schedules and program requirements change; risks
related to the quality and timeliness of the performance
of our numerous subcontractors; risks associated
with the satisfaction by the client of its requirements
under the contract; risks related to potential
claims, even if unjustified, relating to failure
to comply with applicable laws or regulations or
other wrong-doing; risks relating to security,
especially information security; risks related
to being unable to hire a sufficient number of
qualified staff in a timely manner; and the risk
that OCD requests substantially less in services
than allowed by the contract. Many of these risks
would be exacerbated by State or Federal policy,
funding, or leadership changes related to the OCD
or the contract. For other factors that could cause
ICF International's results to vary from expectations,
please see the risks detailed from time to time
in our filings with the Securities and Exchange
Commission, including in our Registration Statement
on Form S-1 under the caption "Risk Factors."
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