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80A - JOINT - LOAN AGMT AMCAL
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80A - JOINT - LOAN AGMT AMCAL
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Last modified
2/2/2017 4:09:44 PM
Creation date
2/2/2017 3:55:17 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
2/7/2017
Destruction Year
2022
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(B) documentation of actions undertaken to meet the equal opportunity <br />requirements of 24 CFR 92.350, which implements Section 3 of the Housing Development Act <br />of 1968, as amended (12 U.S.C. 1701u); <br />(C) documentation and data on the steps taken to implement Owner's <br />outreach programs to minority -owned and women -owned businesses to meet the minority <br />outreach requirements of 24 CFR 92.350; <br />(2) if applicable, records which demonstrate compliance with the <br />requirements relating to relocation of displaced persons, as described in 24 CFR 92.353. At a <br />minimum, these shall include project occupancy lists identifying the name and address of all <br />persons occupying the project property up until the date of the date on which Owner obtained <br />ownership of the Property; <br />(3) any other reports issued by other monitoring agencies. <br />b. All records pertaining to each calendar year of Inclusionary funds must be <br />retained for the most recent five year period, except that for rental housing projects, records may <br />be retained for five years after the project completion date; except that records of individual <br />tenant income verifications, project rents and project inspections must be retained for the most <br />recent five year period, until five years after the affordability period terminates. Owner shall <br />cooperate with the City to retain all books and records relevant to the Loan Agreement for a <br />minimum of five years after the expiration of the Loan Agreement and any and all amendments <br />hereto, or for five years after the conclusion or resolution of any and all audits or litigation <br />relevant to the Loan Agreement, whichever is later. The City, the State, and/or their <br />representatives shall have unrestricted reasonable access to all locations, books, and records for <br />the purpose of monitoring, auditing, or otherwise examining said locations, books, and records <br />with or without prior notice. <br />C. If so directed by the City or HUD upon termination of the Loan Agreement, <br />Owner shall cause all records, accounts, documentation and all other materials relevant to the <br />work to be delivered to the City or HUD, as depository. <br />d. All records, accounts, documentation and other materials relevant to the Project <br />shall be accessible at any time to the authorized representatives of the City, or HUD, on <br />reasonable prior notice, for the purpose of examination or audit. <br />e. The City shall perform an annual audit at the close of each calendar year in which <br />these Restrictions are in effect. Owner shall reasonably cooperate with City in performing such <br />audit. <br />f Owner shall permit the City to perform an Annual Physical Inspection of the <br />Property with at least seven (7) days notice. Owner shall cooperate with this Inspection and shall <br />take all steps necessary to quickly correct any code deficiencies identified during the Inspection. <br />L. The City is the beneficiary of the terms and provisions of these Restrictions and the covenants <br />herein, both for and in its own right and for the purposes of protecting the interests of the <br />l • <br />
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