Annual Compliance Reporting for City-Funded Properties
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 for the City's designated programs. 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.
Below is the Annual Compliance Reporting Schedule for City funded projects.
Detailed instructions and Forms & Templates for the Annual Compliance Submissions are located on the City's website.
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
Management Memos and Administrative Notices
Asset Management Operating & Capital Budgets - Submission Reminder (October 2017)
City of San José - Submissions Schedule 2017 (April 2017)
Notification of Revised Rent Roll and Pending Submissions (November 2016)
2016 Annual Property Compliance Submissions Notifications (April 2016)