Res99 RD-99-30 - Laserfiche WebLink

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E. Reporting Requirements. Upon the Initial Rent-Up, IAC shall submit to the Agency reports with respect to the renting or occupancy of the Affordable Units (each, a"Report", and collectively, the "Reports") in a form to be agreed upon by IAC and the Agency, and thereafrer as reasonably requested by the Agency, but no more frequently than quarterly. For each Affordable Unit, each Report, at a minimum, shall include the following information: (1) The family size and number of occupants in the unit; (2) The gross annual income of the occupants; (3) Rental rate of the unit; (4) Affordable Unit number; (5) Percent of rent paid in relation to gross income and household size; (6) At Initial Rent-Up and thereafter upon the rental of the unit to a subsequent tenant, a statement indicating whether the occupants lived and/or worked in the City of Redwood City at the time of their occupancy of the unit; and (7) If the unit is constructed in satisfaction of the Replacement Housing Plan for the Franklin Street Project (February 1999), the Report shall additionally indicate the date the unit became available for rental and its bedroom size. F. Increased Income. If as a result of the annual recertification procedure or information provided in a Report any tenant of an Affordable Unit is determined to have an income level in excess of that permitted for a tenant of an Affordable Unit, IAC shall notify the Agency thereof and shall designate another unit within the IAC Project as a replacement for such Affordable Unit. G. Additional Information, Access to Records. The Agency may, from time to time during the term of this Covenant, request additional or different information with respect to the renting or occupancy of the Affordable Units and IAC shall promptly supply such information in the Reports required hereundec IAC shall maintain all necessary books and records with respect to the renting or occupancy of the Affordable Units, including financial records with respect thereto; in accordance with requirements reasonably prescribed by the Agency. Upon request for examination by the Agency, IAC, at any time during normal business hours upon reasonable prior notice, shall make available all of its records with respect to the renting or occupancy of the Affordable Units. IAC shall permit the Agency, at the Agency's sole cost and expense, to audit, examine and make excerpts or transcripts from these records with respect to the renting or occupancy of the Affordable Units. 2. NO DISCRIMINATION. IAC covenants by and for itself and any successors in interest that there shall be no discrimination against or segregation of any person or group of persons on account of race, color; creed, religion, sex, marital status, sexual preference, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the IAC Project, nor shall IAC itself or any person claiming under or through it establish or permit any such practice or practices of discrimination or segregation with reference to the selection, location, number, use or occupancy of tenants, lessees, subtenants, sublessees or vendees in the IAC Project. 3. NONDISCRIMINATION AND NONSEGREGATION CLAUSES. All deeds, leases or contracts made relative to the IAC Project, the improvements thereon or any part thereof, shall 9627�.1002525 3