MERCY HOUSE LIVING CENTERS (3) - Laserfiche WebLink

Home Browse Search

insured, may be applied to any indebtedness owed to such insured or released for repair or rebuilding of the Property. Surplus insurance proceeds thereafter may be disbursed to the Project Sponsor. 10. Records and Reports. 24 CFR 92.504(c)(12). Project Sponsor shall prepare, maintain and submit to the City, as appropriate, the following records and reports: a. Annual Reports. Project Sponsor shall fife with the City an Annual Report (herein referred to as the "Annual Report") within sixty (60) days following the end of each calendar year, commencing with the end of the calendar year during which the rehabilitation is completed. The Annual. Report shall include, and shall contain a certification with regard to, the rental rate and the income and family size of the occupants for each dwelling unit on the Property who have inhabited the Property during the previous calendar year. Project Sponsor shall obtain the income information required to be included in the Annual Report from the occupants of the Property. Any lease or other agreement that Project Sponsor requires occupants of the dwelling units on the Property to execute shall require the occupants to provide such income information upon the request of the Project Sponsor. The Annual Report shall contain a certification by Project Sponsor as to such other information as the City Manager may reasonably require. b. Records. Project Sponsor shall maintain records relating to the rehabilitation of the Property and make them available for inspection by the City, the State or HUD, upon request, including the following: (1) current and accurate data on the race and ethnicity of the occupants of the Property; (2) records which demonstrate compliance with the requirements set forth in Sections 8.a., 8.c., and 8.e., above; (3) records which demonstrate compliance with the property standards set forth in Attachment No. 4; (A) certifications given by contractors and subcontractors given pursuant to Sections 8.g. and 8.h., above. (5) statement of income to Project Sponsor from tenants pursuant to Section 10.a., above. Project Sponsor shall retain all books and records relevant to this Agreement for a minimum of four years after the expiration of this Agreement and any and all amendments hereto, or for four years after the conclusion or resolution of any and all audits or litigation relevant to this Agreement, whichever is later. The Nip\staff\sk\agreement\ Page 9 of 31 Garfield HOPWA Agreement 11-07-01