Last Updated:
December 8, 2019
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Matt Dolf
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General E. Books and Accounts
- Fiscal Year. The Co-op's Fiscal Year end will be the day preceding the Interest Adjustment Date for the Co-op's mortgage. The Co-op will provide this date to the City upon execution of the Letter of Commitment for the Leasehold Mortgage.
- Operating Income. All Operating Income received by the Co-op from whatever source with respect to the Development will be collected by the Co-op, held by the Co-op and used by the Co-op solely for the purpose of and to the extent authorized by this Agreement.
- City Audit. The City reserves the right to audit the books, records and accounts of the Co-op pertaining to its operation of the Development at any reasonable time.
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