(A) The sponsor shall verify the contract rents and/or annual shelter rents, whichever is applicable pursuant to § 35.24, to the city with a statement of profit and loss of the housing development as reported to the authority by an independent certified public accountant or other form of financial documentation deemed suitable by the city.
(B) The statement of profit and loss, or other form of financial documentation acceptable by the city, together with a statement describing the methodology by which the sponsor calculated the service charge, shall be submitted to the City Clerk/Treasurer by February 1 of each year.
(Ord. 174, passed 4-11-2011)