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April 20, 2017
Affordable Housing Asset Management Community,
The City has revised and hopefully simplified compliance submission requirements and timing.  Below is our revised schedule for submissions.  As you will see, those projects with City loans will have several items due on May 1.  These are generally consistent with past submissions requirements.
Annual Compliance Reporting Schedule
  1. Due May 1 (or October 31 for project's with FYE 6/30):
    a. Project's Annual Audited Financial Statements
    b. City of San José Net Cash Flow Statement (part of audit)
    c. Net Cash Flow Payment (if applicable)
    d. Summary of Replacement Reserve Expenditures (consistent with audit)
   2.
Due August 1:

a. Rent Roll dated as of June 30 in City approved format

b.
Annual Owner Certificate of Program Compliance

c.
Fair Housing Compliance Submission (now due every year)



   3.
Due October 31 (or May 1 for project's with FYE 6/30):

a.
Proposed Operating Budget and Proposed Schedule of Rental Income

b.
(Updated) 5 Year Capital Improvement Plan

   4.
Evidence of Insurance Coverage with the City of San José as Co Insured/ Additional Loss Payee is due prior to expiration of coverage.

Please submit all documents electronically to: AssetSubmissions@sanjoseca.gov with the name of the project in the subject line of the email.
The Housing Department's website will be updated with this information the week of April 24, 2017.

For questions regarding affordability compliance, loan repayments, and transactions on City-restricted developments, please contact:

Leif Regvall
Leif.regvall@sanjoseca.gov
408-535-8232
Tascha Mattos
tascha.mattos@sanjoseca.gov
408-793-5536

Thank you all for the work you do to provide affordable housing.
 
 
Leif Regvall
Director of Asset Management

City of San Jose - Housing Department

408-535-3860