SR 05:219 - Laserfiche WebLink

2.5 Charges to other Residents, For all Residents not occupying a Very Low Income Unit, Low Income Unit or Memory Impaired Bed. the Developer shall, in its sole discretion, set the charges made to Residents for rent and services, 2.6 Changes to Affordabilitv Levels. The Citv Manal!er is authorized to execute one or more amendments to this AlITeement rel!ardinl! the=nancv ill1d.affurdabilitv reauirements contained in this Article 2 in the event the Develoner and Citv Manal!er al!ree such amendments would he beneficial to the Proiect. ARTICLE 3 INCOME CERTIFICATION AND REPORTING 3.1 Income Certification, Developer will obtain, complete and maintain on file, immediately prior to ipitial occupancy, income certifications for the Residents of the Extremely Low Income Units, Very Low Income Unit and the Very Low Income Memory Impaired Bed. Developer shall make a good faith effort to verify that the information 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 pay stub for the most recent pay period; (b) obtain an income tax return for the most recent tax year; (c) conduct a credit agency or similar search; (d) obtain an income verification form from the applicant's current employer; (e) obtain an income verification form from the Social Security Administration and/or the California Department of Social Seryices if the applicant receives assistance from either of such agencies; (f) if the applicant is unemployed and has no such tax return, obtain another form of independent verification; or (g) obtain three (3) months of bank statements. Developer shall also verify real estate assets, as necessary to properly calculate Adjusted Income, Copies of Resident income certifications shall be available to City upon request 3.2 Annual Report, Within one hundred eighty (180) days of the end of each fiscal year, Developer shall provide the City with (a) an audited financial statement for the Project for the previous year, (b) a copy of the current Project management plan, and (c) the most recent annual operating budget for the Project. 3.3 Records and Information. Upon request, the Developer shall permit the City to inspect at reasonable times and on a confidential basis those books, records and all other documents of the Developer necessary to determine Developer's compliance with the terms of this Agreement. The Developer also has the right at all reasonable times to inspect the books, records and all other documentation of the City pertaining to its obligations under this Agreement ARTICLE 4 MAINTENANCE AND OPERATION OF THE PROJECT 4.1 Assisted Living Facility. Supplemental Care and Services. 144\105\159081.11 with 159081.]0 RedJine 275355 7