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EXHIBIT "B"
COMPLIANCE CERTIFICATE
To: Newport News Redevelopment and Housing Authority
__________
Re: Stuart Gardens I Apartments, City of Newport News, Virginia
Pursuant to Section 4 of the Regulatory Agreement and Declaration of Restrictive Covenants dated
as of July 1, 2026 (the "Regulatory Agreement"), the undersigned on behalf of Stuart Gardens Housing
Partners LP, Phase I, a Virginia limited partnership (the "Borrower"), hereby certifies with respect to the
operation and management of Stuart Gardens I Apartments (the "Project"), that as of the date shown above:
(1) The total number of Low Income Tenants, as defined in the Regulatory Agreement, is __.
(2) The number of units in the Project rented is ___ and the number of Available Units, as
defined in the Regulatory Agreement, is 250.
(3) The percentage that the number of units occupied constitutes of the total number of units
is __%.
(4) 100% of the Available Units are occupied by Low Income Tenants.
(5) The information contained in this report is true, accurate and correct as of the date hereof.
(6) As of the date hereof, the Borrower is not in default under any covenant or agreement
contained in the Regulatory Agreement.
(7) At least 40% of the Available Units in the Project were occupied by Low Income Tenants
as required in Section 4 of the Regulatory Agreement.
(8) All new tenants of the Project and all Low Income Tenants whose incomes are subject to
annual verification since the date of the immediately preceding report and certification
have executed an income certification as required by Section 4 of the Regulatory
Agreement.
(9) The lowest percentage of the Available Units in the Project that were occupied or treated
as being occupied by Low Income Tenants during the month preceding the date hereof was
__%.
(10) The attached rent roll, which designates the date of initial occupancy, the number of
bedrooms, the unit number, the tenant name, the household size (if applicable), and whether
the tenant is a Low Income Tenant, is true, accurate and correct.
(11) As of the first day of the month hereof, the following is true, accurate and correct.
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