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02
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2017
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101717
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
10/17/2017
DESTRUCT DATE
15Y
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(i) A Project income and expense statement for the reporting penod, <br /> (ii) Proposed annual budget for the next fiscal year which sets forth Owner's <br /> estimate of operating income, operating expenses and debt service for the year, amounts payable <br /> to reserves and proposed rent adjustments, <br /> (iii) A report on maintenance and other issues anticipated to affect the current <br /> budget needs of the Project as well as the amount in the Project's reserve accounts and the <br /> amount expected to be needed for major repairs or other needs during the new fiscal year, <br /> (iv) Information on the status of the waiting list for units, including the number <br /> of households on the list and the number of City of Pleasanton residents and persons employed in <br /> the City on the list, and <br /> (v) A financial audit of the books and records of the Project prepared in <br /> accordance with generally accepted auditing standards by an independent certified public <br /> accountant <br /> (vi) City may, in its reasonable discretion, from time to time request additional <br /> or different information, and Owner shall promptly supply such information in the reports <br /> required hereunder. <br /> 3 3. Maintenance of Records <br /> 3.3 1 Owner shall maintain all records regarding the construction of the Project <br /> for five (5) years after final payment and all other pending matters are closed Owner shall also <br /> maintain tenant leases, income certifications and other matters related to the leasing of the <br /> affordable units for a penod of five (5) years after the final date of occupancy by the tenant. <br /> 3 3.2 Records must be kept accurate and up-to-date City shall notify Owner of <br /> any records it deems insufficient Owner shall have fifteen (15) calendar days from such notice <br /> to correct any specified deficiency in the records, or, if more than fifteen (15) days shall be <br /> reasonably necessary to correct the deficiency, Owner shall begin to correct the deficiency within <br /> fifteen (15) days and diligently pursue the correction of the deficiency as soon as reasonably <br /> possible <br /> 3 4 Access to Records, Inspections. <br /> 3.4.1 With at least 48-hours' notice, dunng normal business hours, Owner shall <br /> provide City and its authonzed agents and representatives access to any books, documents, <br /> papers and records of the Project for the purpose of making audits, examinations, excerpts and <br /> transcriptions. <br /> 3.4 2 With at least 48-hours' notice, dunng normal business hours and as often <br /> as may be deemed necessary, City and its authonzed agents and representatives shall be <br /> permitted access to and the right to examine the Project and the Property and to interview tenants <br /> and employees of the Project, for the purpose of venfying compliance with applicable <br /> 10 <br /> OAK #4832-3506-8205 v4 <br />
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