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A. A statement that the five (5) designated units in <br /> the Project have been continuously designated as units for <br /> occupancy by lower or moderate income households during the <br /> preceding year and a list of the tenants by unit numbers. <br /> <br /> B. A statement that none of the designated tenants are <br /> members of the Developer's immediate family (parent, spouse, <br /> children or grandchildren). <br /> <br /> C. A statement that rent levels in all units <br /> designated for lower or moderate income households did not exceed <br /> the rent levels authorized by Section 4 of this Agreement during <br /> the preceding year. <br /> <br /> D. Notification to the City of any increase in rents <br /> for low or moderate income units during the preceding year, the <br /> effective date of such rent increases and a copy of the federally <br /> published median income data and calculations or other <br /> justifications upon which such rent increases are based. <br /> <br /> E. A statement that a copy of the Annual Report has <br />~been or will be provided to each tenant at the same time it is <br /> provided to the City. <br /> <br /> The reporting required hereunder shall be done by the person(s) <br /> or entity that is the owner of the five (5) affordable rental <br /> units or any of them at the time each report is due. <br /> <br /> 10. Further Investigation: <br /> <br /> A. Upon receipt of the Annual Report, the City's <br /> Director of Planning and Community Development ("Director") shall <br /> file the Annual Report, and may undertake further investigation <br /> as deemed appropriate. If any such further investigation reveals <br /> possible violations of the terms of this Agreement, the Director <br /> shall issue a Notice of Noncompliance,to the Developer specifying <br /> the basis for any alleged violation of this Agreement. If the <br /> Developer and the Director cannot resolve the matter, then the <br /> Developer shall be given notice and opportunity to respond before <br /> the City Council. <br /> <br /> B. If the Director fails to issue a Notice of <br /> Noncompliance within ninety (90) days of the date the Annual <br /> Report was due, compliance with this Agreement for the preceding <br /> year shall be conclusively presumed thereafter. <br /> <br /> 11. Sanctions for Noncompliance: If the City Council shall, <br /> after notice and hearing, find on the basis of substantial <br /> evidence that the Developer has not complied with the terms of <br /> this Agreement, then the sanctions shall be as follows: <br /> <br /> A. Technical Noncompliance: Violations of this <br /> Agreement shall be assigned a dollar value. The Developer shall <br /> be obligated to pay that dollar amount to the City for use in the <br /> City's lower income housing fund within sixty (60) days of the <br /> City Council's finding. <br /> <br /> - 4 - <br /> <br /> <br />