Common use of Income Certification Clause in Contracts

Income Certification. The Borrower or its designated agent shall obtain from each Tenant leasing an Income-Restricted Unit on the Property information regarding annual income in order to ensure that the Tenant meets the income eligibility criteria for the Income-Restricted Unit. The Tenant must continue to meet these criteria in order to continue to lease the Income-Restricted Unit. The Tenant’s income must be certified annually at the beginning of each lease year. The attached form is to be used for the initial certification of income and each annual recertification. Third party verification of income is required and copies of Federal and State income tax returns, W-2 forms, pay stubs or statements from employers may be requested. The certification form must be notarized. The Borrower or its designated agent shall maintain on file for the Arlington County Housing Development Office the initial income certification for each Income Restricted Unit and the annual recertification that establishes continuing eligibility of each Tenant to lease the Income Restricted Unit. INCOME CERTIFICATION FORM Property Name Unit Number I/We, the undersigned, certify that this Income Certification is being prepared to determine eligibility for occupancy of an Income Restricted Unit NEW RECERTIFICATION DATE LAST CERTIFIED PART I – OCCUPANTS Household Name Member Relationship to Applicant Age Full-time Student (Yes/ No) 1.