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REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY <br />ACTION <br />CITY COUNCIL MEETING DATE: <br />18, 2018 <br />TITLE: <br />RECEIVE AND FILE HOUSING SUCCESSOR <br />ANNUAL REPORT FOR FY 2017-18 — LOW <br />AND MODERATE INCOME HOUSING <br />ASSET FUND <br />{STRATEGIC PLAN NO. 5, 1} <br />CITY MANAGEN EXECUTIVE DI CTOR <br />RECOMMENDED ACTION <br />Receive and file. <br />HOUSING AUTHORITY ACTION <br />Receive and file. <br />DISCUSSION <br />CLERK OF COUNCIL USE ONLY: <br />•:• <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1a Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Pursuant to the Dissolution Act, the City Council on January 9, 2012, designated the Housing <br />Authority as the Successor Housing Agency to the dissolved Community Redevelopment Agency <br />of the City of Santa Ana (RDA). Effective February 1, 2012, the Housing Authority retained the <br />housing assets, duties, functions and obligations of the former RDA and continued to complete <br />the housing development projects encumbered prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health & Safety <br />Code Section 34176 and addresses functions to be performed by the Housing Successor <br />Agencies. This bill, effective January 2014, requires all housing successor agencies to provide <br />an annual report to its governing body within six months after the end of the fiscal year, starting <br />with FY 2013-14. Among the requirements is an independent financial audit of the Low and <br />Moderate Income Housing Asset Fund (LMIHAF), and information regarding specific housing <br />financial data and activities. The independent financial audit of the LMIHAF is included in the <br />City's Comprehensive Annual Financial Report (CAFR) for FY 2017-18, as prepared by the <br />Finance and Management Services Agency and posted on the City's website at <br />hftps://www.santa-ana org/finance/comprehensive-annual-financial-reports-cafr-and-other- <br />financial-reports. <br />80A-1 <br />