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REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY � <br />ACTION <br />CITY COUNCIL MEETING DATE: <br />DECEMBER 17, 2019 <br />TITLE <br />RECEIVE AND FILE HOUSING SUCCESSOR <br />ANNUAL REPORT FOR FY 2018-19 — LOW <br />AND MODERATE INCOME HOUSING <br />ASSETFUND <br />{STRATEGIC PLAN NO. 5, 11 <br />/s/Kristine Ridge /s/Steven Mendoza <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />Receive and file. <br />HOUSING AUTHORITY ACTION <br />Receive and file. <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 111 Reading <br />❑ Ordinance on 2i1 Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />DISCUSSION <br />Pursuant to the Dissolution Act, on January 9, 2012 the City Council 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 (HSC) Section 34176 and addresses functions to be performed by the housing successor <br />agencies. This bill, effective January 2014, required all housing successor agencies to provide an <br />annual report to its governing body within six months after the end of the fiscal year, starting with <br />FY 2013-14. Among the requirements is an independent financial audit of the Low and Moderate <br />Income Housing Asset Fund (LMIHAF), and information regarding specific housing financial data <br />and activities. The independent financial audit of the LMIHAF is included in the City's <br />Comprehensive Annual Financial Report (CAFR) for Fiscal Year (FY) 2018-19, as prepared by <br />the Finance and Management Services Agency, and is posted on the City's website at <br />https://www.santa-ana.org/finance/comprehensive-annual-financial-reports-cafr-and-other- <br />financial-reports. <br />Assembly Bill (AB) 1793, signed by the Governor on September 27, 2014, further amended HSC <br />Section 34176.1 to require housing successor agencies to include additional information on <br />homeownership units assisted by the former RDA or housing successor that are subject to <br />covenants or restrictions. The FY 2017-18 annual report included this additional information and <br />E:1�1hw <br />