RecDoc 2020-115558 - Laserfiche WebLink

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(2) certifications of eligibility for all Tenants of Affordable Units at the time of initial occupancy and upon the yearly anniversary of their continuing tenancies. Owner shall retain in the Tenant's file all verifications of Tenant's income (tax returns, W-2 forms, paycheck stubs, etc.) and make such files available for the City's review, upon the City's request. (3) Information on the status of the waiting list for Affordable Units. (b) Within thirty (30) days after receipt of a written request, Owner shall provide any other information or completed forms reasonably requested by the City to ensure compliance with this Agreement. (c) If similar reports on some or all of the Affordable Units are required for regulatory compliance with other financing programs, those reports shall be deemed satisfactory for the purpose of this Section by the City, with respect to the portion of the requirements of this Section covered by such reports, provided that copies are provided on an annual basis to the City with an owner certification addressed to the City certifying that Owner has complied with this Agreement. (d) Each calendar year following the Effective Date, no later than thirty (30) days after receipt of Owner's submitted materials as required under Section 3.2(a) above, the City shall provide Owner with written confirmation that the City has received such materials submitted by Owner. 3.3 Tenant Records. (a) Owner shall maintain complete, accurate and current records pertaining to the affordability obligations hereunder, and shall permit any duly authorized representative of the City to inspect the records, including but not limited to records pertaining to income and household size of Tenants of the Affordable Units, Rent charged Tenants of the Affordable Units and documents necessary to verify eligibility under Section 4.2 hereof, upon reasonable prior notice during normal business hours. All Tenant lists, applications and waiting lists relating to the Affordable Units shall at all times be kept separate and identifiable from any other business of Owner and shall be maintained as required by the City, in a reasonable condition for proper audit and subject to reasonable examination during business hours by representatives of the City. Owner shall retain copies of all materials obtained or produced with respect to occupancy of the Affordable Units for a period of at least five (5) years. (b) The City shall notify Owner of any records it deems insufficient. Owner shall have thirty (30) calendar days after the receipt of such a notice to correct any deficiency in the records specified by the City in such notice, or if a period longer than thirty (30) days is reasonably necessary to correct the deficiency, then Owner shall begin to correct the deficiency within thirty (30) days and correct the deficiency as soon as reasonably possible but within ninety (90) days, or as otherwise agreed by the City if a longer time period is reasonably required. 3.4 Tenant Files and On -Site Inspection. The City shall have the right to review tenant files for compliance with this Agreement and to perform an on-site inspection of the Development REV: 09-29-2020 VR ATTY/AGR.2020.215/Stanford - Cardinal Apartments (Page 8 of 16)