Income Computation and Certification Sample Clauses

Income Computation and Certification. Immediately prior to an Eligible Tenant’s occupancy of an Affordable Unit, Developer shall obtain an Income Computation and Certification Form in the form attached hereto and incorporated herein as Exhibit ”C”, or on a similar form required by either of the Additional Regulatory Agreements if Developer obtains the Tax Credits and issuance of the Tax-Exempt Bonds, and such form requires inclusion of the same information as required in Exhibit “C”, from each such Eligible Tenant dated no more than 90 days prior to the date of initial occupancy in the Housing Development by such Eligible Tenant. In addition, Developer shall provide such further information as may be reasonably required in the future by the Agency for purposes of verifying a tenant’s status as an Eligible Tenant. Developer shall use good faith efforts to verify that the income provided by an applicant is accurate by taking the following steps as a part of the verification process:(i) obtain three (3) pay stubs for the most recent pay periods; (ii) obtain a written verification of income and employment from the applicant’s current employer; (iii) obtain an income verification form from the Social Security Administration, California Department of Social Services, and/or California Employment Development Department if the applicant receives assistance from any of said agencies; (iv) if an applicant is unemployed or did not file a tax return for the previous calendar year, obtain other evidence and/or verification of such applicant’s total income received during the calendar year from any source, taxable or nontaxable, or such other information as is satisfactory to the Agency. Developer shall maintain in its records each Income Computation and Certification Form obtained pursuant to this section for a minimum of five (5) years.