RecDoc 2022-044651 CONF - Laserfiche WebLink

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ARTICLE 3. INCOME CERTIFICATION AND REPORTING 3.1 Income Certification. The Owner will obtain, and complete, as a condition to initial occupancy and maintain on file annually thereafter, income certifications from each Resident renting any of the Affordable Units. The Owner shall make a good faith effort to verify that the income provided by an applicant or occupying household in an income certification is accurate by taking two or more of the following steps as a part of the verification process: (a) obtain a minimum of the three (3) most current pay stubs for all adults age eighteen (18) or older; (b) obtain an income tax return for the most recent tax year; (c) conduct a credit agency or similar search; (d) obtain the three (3) most current savings and checking account bank statements; (e) obtain an income verification form from the applicant's current employer; (f) obtain an income verification form from the Social Security Administration and/or the California Department of Social Services if the applicant receives assistance from either of such agencies; or (g) if the applicant is unemployed and has no such tax return, obtain another form of independent verification. Copies of Resident income certifications shall be available to the City upon request. 3.2 Annual Report to City. (a) The Owner shall submit to the City not later than the March 31 of each calendar year, a statistical report, including income and rent data for all Affordable Units, and a report on the status of the waiting list for Affordable Units. The Annual Report shall, at a minimum, include the following information for each Affordable Unit in the Project: (i) unit number; (ii) number of bedrooms; (iii) current rent and other charges; (iv) dates of any vacancies during the previous year; (v) number of people residing in the unit; (vi) total gross household income of residents; (vii) documentation of source of household income; (viii) lease commencement and termination dates, (ix) initial move -in date, (x) the information required by Section 3.11 and (xi) any other information or completed forms requested by the City. 3.3 Additional information. Within fifteen (15) days after receipt of a written request, the Owner shall provide any additional information reasonably requested by the City. The City shall have the right to examine and make copies of all books, records or other documents of the Owner, which pertain to the Affordable Units. 3.4 Records. (a) The Owner shall keep and maintain at the Project, or elsewhere with the City's written consent, complete, accurate and current records pertaining to the Affordable Units; and shall permit any duly authorized representative of the City to inspect records, including records pertaining to income and household size of Residents, Rent charged Residents and affirmative marketing requirements. All Resident lists, applications and waiting lists relating to the Project shall at all times be kept separate and identifiable from any other business of the Owner and shall be maintained as required by the City, in a reasonable condition for proper audit and subject to examination during business hours by representatives of the City. The Owner shall retain copies of all materials obtained or produced with respect to occupancy of the Units for a period of at least five (5) years. REV: 04-07-2022 SK ATTY/AGR.2022.067/IQHQ Elco Yards. LP and Kopf & Kopf LLC (Page 7 of 19)