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2015 Bond Compliance Submissions for the City of San José

The City of San José is requiring owners of affordable housing developments that were financed by the City of San José's issuance of bonds to participate in fulfilling the 2015 Certifications for CDLAC bond compliance.  As bond issuer, the City has assumed bond compliance monitoring duties from CDLAC under Section 5220 of the CDLAC regulations. Each year, the City is required to submit a certification to CDLAC that all of its bond projects are complying with the project features originally identified in application to CDLAC, and which are contained in Attachment A to the CDLAC resolution.  Each project owner is required to submit the information requested below.  

        Directions for 2015 Bond Compliance
        CDLAC Certificate of Compliance
        Certificate of Continuing Program Compliance

Please fill out the forms for each project for which the City issued bonds and submit a PDF of the signed forms via email to Leif Regvall at , and Brenda Charles at no later than January 29, 2016.

Should you have any questions, please contact Leif Regvall by email or by calling 408.535.8232.

Bond Funded Affordable Housing Projects

A primary source of financing for affordable housing projects is multifamily housing revenue bonds.  The City is required to be the issuer of those bonds in all cases in which the City has provided a loan to help complete the project financing.  As the issuer, the City is required to monitor the bond regulatory agreement requirements to ensure that the bond funds are spent appropriately and to ensure rents assessed to tenants meet the terms of the regulatory agreement.

The Housing Department’s Asset Management team is the group that ensures compliance with the affordable housing bond regulatory agreements on behalf of the City.