1. (a) The regulatory agreement between the sponsor and the Agency shall contain a requirement that the sponsor report to the Agency at least annually.

2. (b) The Interagency Operating Agreement shall contain a requirement that the Agency report annually to the Department in a form approved by the Department. Each report shall deal separately with each rental housing development for which the Agency is responsible and shall be submitted to the Department no later than October 31 in each year. The report shall contain such information as the Department may reasonably require, including but not limited to:

   1. (1) the fiscal condition of the rental housing development, including an audited financial statement indicating surpluses or deficits in operating accounts and the amounts of any fiscal reserves,
   2. (2) the substantial defects in physical condition of the rental housing development including a description of any major repair or maintenance work undertaken in the reporting year,

   3. (3) the occupancy of the rental housing development indicating:

      1. (A) the number and sizes of assisted units available to or occupied by eligible households,
      2. (B) the distribution of incomes of eligible households,
      3. (C) the ethnic groups to which the eligible households belong, and
      4. (D) the number of eligible very low income and other lower income households on waiting lists for the assisted units,
   4. (4) general management performance including tenant relations and other relevant information.

Note: Authority cited: Section 50737, Health and Safety Code. Reference: Sections 50743, 50746, Health and Safety Code.

History

1. Amendment of subsection (b) filed 11-13-80 as an emergency; effective upon filing (register 80, No. 46). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 3-13-81.

2. Certificate of Compliance transmitted to OAL 3-13-81 and filed 4-14-81 (Register 81, No. 16).