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The LMIHAF does not have an Excess Surplus. (Refer to calculation below.) <br />Fund Balance — June 30, 2017 $42,936,847 <br />Less Unavailable Amounts: <br />Advance to private -purpose trust fund ( 532,601) <br />Community development ( 39,549,196) <br />Land held for resale ( 2,855,050) <br />Available Low Income Housing Funds <br />Limitation (Greater of $1,000,000 or Four Years Deposits): <br />Aggregate amounts deposited for preceding four fiscal years <br />2014-2015 2,329,877 <br />2015-2016 312,836 <br />2016-2017 138,585 <br />2017-2018 540,960 <br />Total deposits for the preceding four fiscal years 3,322,258 <br />Base limitation 1,000,000 <br />Greater Amount 3,322,258 <br />Computed Excess Surplus — June 30, 2018 $ <br />XII. INVENTORY OF HOMEOWNERSHIP UNITS <br />(A) As of June 30, 2018, there was a total of 52 homeownership units and 796 rental <br />units subject to covenants or restrictions. Of this total, all 848 units had <br />affordability restrictions. <br />(B) Since February 1, 2012, the number of units lost to the portfolio is 25; 14 single <br />family units and 11 multi -family residential units. <br />(C) There were no funds returned to the Housing Successor as part of an adopted <br />program that protects the former redevelopment agency's investment of moneys <br />from the former Low and Moderate Income Housing Fund in FY 2017-18. <br />(D) The Housing Authority of the City of Santa Ana has not contracted with any <br />outside entity for the management of the units. <br />HOUSING AUTHORITY OF THE CITY OF SANTA M211fi18 Page 8 <br />