Reso 2022-063 Loan to Abode Communites for 72 Unit affordable housing dev

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3.2 Annual Report; Inspections. Owner shall submit an annual report ("Annual Report") to the City in form satisfactory to City, together with a certification that the Project is in compliance with the requirements of this Agreement. 3.2.1 Owner shall submit to the City such Annual Report: (a) Not later than the ninetieth (90) day after the close of each fiscal year of the City; or such other date as maybe requested by City; and (b) Within fifteen (15) days after receipt of a written request, any other information or completed forms requested by City in order to comply with reporting requirements of the State of California. 3.2.2 The Annual Report shall, at a minimum, include the following information for each dwelling unit in the Project: (a) Unit number; (b) Identification of the Unit as an Extremely Low Income Unit, Very - Low Income Unit, or Low Income Unit; and (c) Current rent and other charges; (d) Dates of any vacancies during the previous year; (e) Number of people residing in the unit; (f) Total household income of residents; (g) Documentation of source of household income; and (h) The information required by Section 3.1.1. 3.2.3 Upon City's request, Owner shall include with the Annual Report, an income recertification for each household, documentation verifying tenant eligibility, and such additional information as City may reasonably request from time to time in order to show compliance with this Agreement. The Annual Report shall conform to the format requested by City; provided however, during such time that the Project is subject to a regulatory agreement restricting occupancy and/or rents pursuant to requirements imposed in connection with the use of federal low-income housing tax credits or tax-exempt financing, Owner may satisfy the requirements of this Section by providing City with a copy of compliance reports required in connection with such financing. 3.3 On -site Inspection. Owner shall permit representatives of City to enter and inspect the Property and the Project during reasonable business hours in order to 5056752.1