RES 16831 - Laserfiche WebLink

than eighty percent(80%) of Area Median Income. One (1) of the residential units in the Project shall be a manager's unit for which the rent will not be restricted. In the event that recertification of tenant incomes indicates that the number of residential units actually occupied by Eligible Households falls below the number reserved for each income group as specified in this Section 9.8, Lessee shall rectify the condition by renting the next available dwelling unit(s) in the Project to Eligible Household(s) until the required income mix is achieved. Section 9.9 Preference for City of Pleasanton Residents and Employees. In order to ensure that there is an adequate supply of affordable housing within the City of Pleasanton for residents and employees of businesses within the City, to the extent permitted by law and consistent with the program regulations for funding sources used for development of the Project, Lessee shall give a preference in the rental of the residential units in the Project to Eligible Households who live or work in the City of Pleasanton. Notwithstanding the foregoing, in the event of a conflict between this provision and the provisions of Section 42 of the Internal Revenue Code of 1986, as amended, or HUD Regulations applicable to the Project, the provisions of such Section 42 and HUD Regulations shall control. Lessee shall comply with City's Affirmative Marketing Policies or other rental policies and procedures as they may be amended from time to time to ensure that residents and people who work in Pleasanton are provided adequate notice and opportunity to rent units in the Project. Section 9.10 Reporting Requirements; Access to Information; Inspections. (a) Tenant Certification. Lessee or Lessee's authorized agent shall obtain from each household prior to initial occupancy of each residential unit in the Project (except the manager's unit), and on every anniversary thereafter, a written certificate containing all of the following in such format and with such supporting documentation as Lessor may reasonably require: (i) the identity of each household member; (ii) the total gross household income; and (iii) verification that the household qualifies as an Eligible Household. (b) Annual Report. Following completion of construction of the Project, on each anniversary of the Commencement Date, Lessee shall submit an annual report ("Annual Report") to the Lessor in form satisfactory to Lessor, together with a certification that the Project is in compliance with the requirements of this Lease. The Annual Report shall, at a minimum, include the following information for each dwelling unit in the Project: (i) unit number; (ii) number of bedrooms; (iii) current rent and other charges; (iv) dates of any vacancies during the previous year; (v) number of people residing in the unit; (vi) total gross household income of residents; (vii) documentation of source of household income; and(viii) the information required by Paragraph (a). Lessee shall include with the Annual Report, an income recertification for each household, documentation verifying tenant eligibility, and such additional information as Lessor may reasonably request from time to time in order to demonstrate compliance with this Lease. The Annual Report shall conform to the format requested by Lessor; 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 state or federal low-income housing tax credits, Lessee may satisfy the requirements of this 28 191A52V1656915.8 OAK#4834-9609-1684 v8