§ 2B-24. Annual report – Residential project.

(a) Residential projects subject to the affordability requirements of this subtitle must submit an annual report to the Department and the Inclusionary Housing Board.

(b) The contents of the annual report required under subsection (a) of this section must include:

(1) the number of affordable units in the residential project for each income level applicable under this subtitle;

(2) the square footage of each bedroom in each affordable unit;

(3) whether an affordable unit is leased and occupied at the time of the report and to which income level the tenant belongs;

(4) whether or not the residential project is in compliance with the inclusionary housing plan;

(5) the number of tenants, delineated by group, occupying affordable units who were identified as belonging to a group least likely to lease as a result of the affirmative marketing required under § 2B-22(b) {"Inclusionary housing plan requirements"} of this subtitle;

(6) an accounting of the monthly rent collected for each affordable unit for that year, as prepared by an independent accountant;

(7) a comparison, displayed as both a number and percentage, of the monthly rent collected for each affordable unit against the monthly rent that could have been collected if each affordable unit was a market-rate unit, as prepared by an independent accountant;

(8) an accounting of the efficacy of the high-performance inclusionary tax credit;

(9) the type of major public subsidy that made the residential project subject to the affordability unit requirements of this subtitle; and

(10) any additional information related to compliance with this subtitle or any rules and regulations issued under this subtitle as determined by the Commissioner.

(c) The Commissioner will prominently post all annual reports required under subsection (a) of this section on the City's website.