Common use of SEMAP Audit Findings Clause in Contracts

SEMAP Audit Findings. If the Contractor causes the Authority to fail any Section Eight Management Assessment Program (SEMAP) Indicator resulting in the Authority receiving a Troubled rating by HUD, the Contractor will be required to execute a Corrective Action Plan, as drafted by the Authority, no later than five (5) business days from the date of notice by the Chief Housing Solutions Officer. In addition, the Authority reserves the right to recapture Base Pay for the identified voucher file(s) for the duration of the period of non-compliance and/or reduce Incentive Pay to the Contractor for the duration of the period of non-compliance.