My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
ORANGE HOUSING DEVELOPMENT CORPORATION/C&C DEVELOPMENT
Clerk
>
Contracts / Agreements
>
O
>
ORANGE HOUSING DEVELOPMENT CORPORATION/C&C DEVELOPMENT
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/9/2017 12:18:54 PM
Creation date
11/13/2009 9:35:44 AM
Metadata
Fields
Template:
Contracts
Company Name
ORANGE HOUSING DEVELOPMENT CORPORATION/C&C DEVELOPMENT
Contract #
A-2009-036
Agency
Community Development
Council Approval Date
4/6/2009
Expiration Date
9/20/2064
Insurance Exp Date
2/15/2010
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
107
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
14. Owner shall not request disbursement of NSP funds until the funds are <br />needed to pay eligible costs. The City shall have the right to disapprove any request if <br />the City determines the request is for an ineligible item or is otherwise not in compliance <br />with or inconsistent with the Loan Agreement and these Restrictions [24 CFR 92.504 <br />(c)(10)]. <br />15. Owner shall prepare, maintain and submit to the City, as appropriate, the <br />following records and reports in compliance with 24 CFR 92.504 (c) (12): <br />a. Annual Reports. Owner shall file with the City an Annual Report (herein <br />referred to as the "Annual Report") within ninety (90) days following the end of each <br />calendar year, commencing with the end of the calendar year (or portion thereof) in <br />which the Real Estate Closing occurs. The Annual Report shall contain a certification by <br />Owner as to such information as the City Executive Director may then require, including, <br />but not limited to, the following: <br />(1) The fiscal condition of the Project, including the Annual Budget <br />and Project Cash Flow report required by Section 10 (c) of the Affordable Housing <br />Restrictions which shall include a financial statement for the previous calendar year that <br />includes a balance sheet and a profit and loss statement indicating any surplus or deficit <br />in operating accounts; a detailed itemized listing of income and expenses; and the <br />amounts of any fiscal reserves. Such Annual Budget and financial statement shall be <br />prepared in accordance with generally accepted accounting practices. The City Executive <br />Director may require that the financial statement be audited at Owner's expense by an <br />independent certified public accountant acceptable to the City Manager. <br />(2) Any substantial physical defects in the Project, including a <br />description of any major repair or maintenance work undertaken or needed in the <br />previous and current years. Such statement shall describe what steps Owner has taken in <br />order to maintain the Project in a safe and sanitary condition in accordance with <br />applicable housing and building codes and the property standards set forth in 24 CFR <br />92.251. <br />(3) The occupancy of the units indicating the income of each current <br />resident and the current rents charged each resident and whether those rents include <br />utilities, including records that demonstrate that the Project meets the requirements of the <br />NSP Program. <br />(4) General management performance, including tenant relations and <br />other relevant information. <br />(5) Records that demonstrate that the units meet the affordability <br />requirements of 24 CFR 92.252, 50052.5 and 50053(b)(1) of the California Health and <br />Safety Code, for the required period of affordability. <br />(6) Evidence of a currently paid hazard insurance policy in accordance <br />7 <br />
The URL can be used to link to this page
Your browser does not support the video tag.