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202504772
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8/26/2025 4:14:45 PM
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8/26/2025 4:14:42 PM
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DEEDS
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202504772
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202504772 <br />(vii) the annual income certification of each Qualified Tenant per <br />Qualified Unit; <br />(viii) documentation to support each Qualified Tenant's annual <br />income certification (for example, a copy of the Qualified Tenant's federal <br />income tax return, Forms W-2 or verifications of income from third parties <br />such as employers or state agencies paying unemployment compensation). <br />Tenant income is to be calculated in a manner consistent with the <br />determination of annual income under Section 8 of the United States <br />Housing Act of 1937 ("Section 8") and not in accordance with the <br />determination of gross income for federal income tax liability. In the case <br />of a tenant receiving housing assistance payments under Section 8, the <br />documentation requirement of this subsection 4(d)(vii) is satisfied if the <br />public housing authority provides a statement to the Owner declaring that <br />the tenant's income does not exceed the applicable income limit under <br />Code Section 42(g); <br />(ix) the eligible basis and the Qualified Basis of each building at <br />the end of the first year of the Affordability Period; and <br />(x) the character and use of the nonresidential portion of each <br />building included in the eligible basis of the building under Section 42(d) of <br />the Code (e.g., tenant facilities that are available on a comparable basis to <br />all tenants and for which no separate fee is charged for use of the facilities <br />or facilities reasonably required by the Project); <br />(e) Throughout the Affordability Period, the Authority, or its designated <br />agent, shall have the right to perform inspections of the Project (including each <br />building in the Project and each unit in each building), in any manner determined <br />by the Authority, including, but not limited to, onsite inspections and virtual <br />inspections. <br />(f) The form of lease to be used by the Owner in renting any Dwelling <br />Units in the Project to Qualified Tenants shall provide for termination of the lease <br />and consent by such person to immediate eviction proceedings in accordance with <br />state law for failure to meet the requirements of a Qualified Tenant, as applicable, <br />as a result of any material misrepresentation made by such person with respect to <br />his or her income, the failure to provide supporting income verification or failure by <br />such person to annually update the Certification of Tenant Eligibility and Income <br />Verification. <br />(g) To permit any duly authorized representative of the Authority, the <br />Department of the Treasury or the IRS to inspect the books and records of the <br />Owner pertaining to the incomes of the Qualified Tenants residing in the Project, <br />including, but not limited to, each tenant file. <br />11 <br />4/2023 <br />
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