RDA Agmt 2000 American Baptist Homes of the West Inc etc

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(f) Developer shall submit to the Agency quarterly Project status report for the first two years of Project operation no later than thirty (30) days after the end of each quarter. Thereafter Developer shall submit annual reports in a form approved by the Agency, no later than thirty (30) days after the end of Developer's fiscal years. The reports shall contain such information as the Agency or other funding sources may then require, including, but not limited to, the following: 1) A statement of the fiscal condition of the Project, including a financial statement indicating surpluses or deficits in operating accounts, a detailed itemized listing of income and expenses, and the amounts of any fiscal reserves. The report due after the end of each fiscal year shall contain an audited version of this statement Such audit shall be prepared in accordance with the requirements of the Agency or other funding sources and certified at the Project's expense by an independent Certified Public Accountant licensed by the State of California. 2) The substantial physical defects in the Project, if any, including a description of any major repair or maintenance work undertaken in the reporting period. 3) The occupancy of the Project indicating: A. The number of units available to andlor actually occupied by Very Low Income Tenants and Low Income Tenants, respectively; B. A listing of current Tenant names, income levels, move-in dates and the ethnic group to which Tenants belong if known; C. General management performance, including tenant relations and other relevant information; 4) The Developer shall submit to the Agency reports required under this Section or other such reports as may be required by the Agency. Upon request of the Agency, Developer shall also furnish copies of all tenant agreements. (g) All tenant lists, applications, verification of tenant income, and waiting lists relating to the Project shall at all times be kept separate and identifiable from any other business of the Developer which is unrelated to the Project, shall be maintained by the Developer in a reasonable condition for proper audit, and are subject to examination during business hours by representatives of the Agency to the extent permissible under laws and regulation protecting individual confidentiality. Failure to keep such lists and applications to make them available to the Agency will be a default hereunder. Records shall be kept for a minimum of three years beyond term of this Agreement (h) The reporting requirements of this section may be satisfied if Developer provides to the Redevelopment Administrator copies of reports required by other funding sources, so long as the information set forth above is included in the reports. i~