Affordable Housing
October 11, 2017
Affordable Housing Asset Management Community,

Operating & Capital Budgets
We want to remind everyone with properties that have City loans have both operating and updated 5-year capital budgets due at the end of October.   There is a link on the Department's Asset Management  website under City Funded Properties to an operating budget roll-up template . This template is an attempt to standardize and organize budget presentations. Last year we asked, but did not require, our  borrowers to prepare this roll-up budget to facilitate the City's review and response. This year, we are requiring the use of the roll-up template.
 
This is also a reminder to everyone that past-due budget reports must be submitted by October 31, 2017. Your property's compliance status may be at risk and escalated for further action to expedite resolution of late or incomplete annual submissions. A complete package includes:
  • Rent rolls
  • Audited financial statements with net cash flow statement (on City of San José template)
  • Net cash flow payment (if applicable)
  • Annual owner certificates of program compliance and fair housing compliance
Please refer to our website for the Annual Compliance reporting Schedule.
 
Submissions Email Address
Please submit all documents to assetsubmissions@sanjoseca.gov
 
Contact Us
The Department's Multifamily Asset Management team is happy to help guide you and answer any questions about the compliance and collections process.  Our contact information is as follows:
 
Leif Regvall
408-535-8232
Tascha Mattos
408-793-5536
Kristine Kane
408-975-4447
Lorena Lopez
408-975-4429
 
Thank you all for the work you do to provide affordable housing.
 
Leif Regvall
Program Manager
Asset Management

City of San Jose - Housing Department

408-535-3860