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Asset Management - Compliance & Collections Submissions for City-funded Properties

The City of San Jose's Housing Asset Management Team ensures that affordable properties with City restrictions and/or loans are compliant with the terms of the financing documents. 

All properties with a recorded Affordability Restriction must adhere to current Income and Rent Limits for each development's sources, and to the current utility schedule when determining tenant income eligibility and setting maximum rents.  In situations where there are multiple affordability restrictions/income or rent limits set by different funding requirement or jurisdiction, the Project must adhere to the strictest requirement so it can meet all of the layered restrictions.  

In addition to ensuring property-related income and rent requirements are met each year, the Asset Management Team also ensures that project reserves are used appropriately, that the City receives accurate annual repayments of its loans, and that changes in existing projects' financial structures and owners are approved per the City's business terms.  

Financial documentation and verification of ongoing eligibility are required on an annual basis pursuant to the regulatory agreement.  Specifics on submission requirements are contained in the notifications and required submissions' directions and formats below:

  1. NEW - Notification of Revised Rent Roll & Pending Submissions (Nov. 2016)
  2. NEW - Rent Roll Revised - 2016 - must be submitted electronically as an excel spreadsheet (Nov. 2016)
  3. NEW - Budget Roll-up Template - for use preparing capital and operating budgets (Nov. 2016)
  4. 2016 Annual Property Compliance Submissions Notification (Mar. 2016)
  5. City Net Cash Flow Template - for inclusion in all third-party audits for properties with City loans (rev. Feb. 2014)
  6. Annual Compliance Submission Requirements for City-funded properties (rev. Mar. 2016)
  7. Fair Housing Compliance Submission Requirements (rev. Mar. 2016)
  8. Request for Key Financing-Related Documents (Mar. 2014)
  9. Key Financing-Related Property Document Submission Directions (rev. Mar. 2016)
  10. 2016-17 Utility Schedule for the Housing Authority of the County of Santa Clara (effective 10-01-2016)
  11. 2016-17 Rent & Income Limits 
  12. Rent and Utility Matrix

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

Leif Regvall - (408) 535-8232

Tascha Mattos(408) 793-5536