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Page | 20 <br />5/5/2026 <br />ATTY/DOCS-ORDINANCE-REGULATIONS/05-05-26 TENANT PROTECTION ORDINANCE ADMINISTRATIVE REGULATIONS <br />REV: 05-05-26 LF <br />Investment income, interest <br />payments, income from real estate <br />• Bank statement showing deposits of income for the <br />most recent month <br />Net income from the operation of a <br />business <br />• Most recent quarterly filed IRS form 1040-ES <br />• Most recent year’s complete tax returns for the business <br />• Most recent schedule K-1 form <br />• Most recent 1099 forms <br />Periodic payments from social <br />security, annuities, insurance <br />policies, retirement funds, pensions, <br />disability, or death benefits, etc. <br />• Documentation showing the amount received each <br />month <br /> <br />Unemployment, disability <br />compensation, and severance pay <br />• Documentation showing the amount received each <br />month <br />Welfare Assistance • Agency benefit eligibility letter <br />• Print out of your benefits history from the Agency. <br />Gifts, any other income • Documentation showing the amount received each <br />month <br /> <br />a. Income Verification Process: <br /> <br />I. City staff will review all sources of income that are submitted for each <br />member of the household aged 18 and over. <br /> <br />II. The monthly total amount of all income sources will be added up and <br />multiplied by 12 to determine the projected gross annual income. <br /> <br />a. If a member of the household has variable income, staff will <br />average the most recent paystubs or income information provided <br />by an employer. <br /> <br />b. If a household provided a tax return, the income listed in the tax <br />return will be used. <br /> <br />III. This projected gross annual income will be used to determine if a <br />household qualifies as an Eligible Residential Household (a household <br />making ≤ 80% of the Area Median Income) <br /> <br />8.A. - Page 41 of 85 <br />299