Los Angeles County Housing Development

“The cannon apartment complex is managed by los angeles county housing development corporation-i, a professional property management company. Los angeles county housing development corporation-i has a project owners and management agents certification for multifamily housing projects with the u.s. Department of housing and urban development. Under this certification, hud has approved los angeles county housing development corporation-i to manage the cannon apartment complex. The management contract encompasses the day to day operations of the project including, but not limited to collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

“The auditing firm sends a draft of the return to the management company. The management company forwards a copy of the return to each board member for their comments prior to filing.”

“Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: has received a copy of the conflict of interest policy, has read and understands the policy, has agreen to comply with the policy, and understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The organization does not compensate officers or key employees (see page 7, part vii).”

“The form 990 and all related financial and policy information are made available to the public upon written request. All document requests are forwarded to the secretary who compiles the information and provides it to the requestor.”

“All of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. Their total hours worked per week for this organization are similar to their hours worked for related organizations both in terms of number of hours and type of work performed. The management contract encompasses the day to day operations of the project including, but not limited to, collection of rents, maintenance of facilities, supervision of staff, and ongoing support for both the owners and tenants as needed in order to establish a safe, sanitary and affordable environment.”

“The management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”