Verifying Low Income Status Sample Clauses

Verifying Low Income Status. The full-time student or non-student must document his or her income by means of verifying documentation such as tax returns, W- 2s, FAFSA documentation, bank statements, etc. “Income” shall be defined as set forth in 25 Cal. Code Regs §6914. Developer shall be responsible for developing written procedures for verification of income status consistent with the Fair Housing Laws, this Affordable Housing Plan and the Regulatory Agreement to be recorded against the Nishi Multifamily Units. The written criteria shall be subject to review and approval by the City.
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Verifying Low Income Status. The full-time student or non-student must document his or her income by means of verifying documentation such as tax returns, W- 2s, FAFSA documentation, bank statements, etc. “Income” shall be defined as set forth in 25 Cal. Code Regs §6914. Developer shall be responsible for developing written procedures for verification of income status consistent with the Fair Housing Laws, this Affordable Housing Plan and the Regulatory Agreement to be recorded against the Nishi Multifamily Units. The written criteria shall be subject to review and approval by the City. Alternatively, rather than Developer leasing the Affordable Beds described in this Affordable Housing Plan directly to qualified students, the Developer may, at its discretion, enter into an agreement with the University of California at Davis (the “University”), under which the Developer agrees to lease some or all of the Affordable Beds required under this Affordable Housing Plan to the University for the University to lease the beds to qualifying students as provided in this Affordable Housing Plan. The lease payment paid by the University for each bed leased under any such agreement will not exceed the amount allowed under this Affordable Housing Plan for the Affordable Bed leased to the University, considering whether the Bed is designated for a Very Low Income or an Extremely Low Income student. Any agreement completed under this provision shall contain a requirement that the University re-lease/sublet all Affordable Beds leased under this provision to full time students that meet the Income Qualifications for the individual Affordable Bed re-leased/subletted, whether Very Low Income or Extremely Low Income at the affordable rents, as set-forth in this Affordable Housing Plan.
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Related to Verifying Low Income Status

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