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HOUSING AUTHORITY OF THE CITY OF SANTA ANA – FY 2021/22 Page 3 <br />protects the former redevelopment agency’s investment of moneys from the Low and <br />Moderate Income Housing Fund pursuant to Section 33334.3(f). <br />This Report is to be provided to the Housing Successor’s governing body by December 31, <br />2022. However, the final audit opinion was not complete until after the December 20, 2022 City <br />Council meeting which delayed the presentation of this Report to January. In addition, this <br />Report and the former redevelopment agency’s pre-dissolution Implementation Plans are to be <br />made available to the public on the City’s website (https://www.santa-ana.org/successor- <br />agency-oversight-board/ .) <br />I.AMOUNT DEPOSITED INTO LMIHAF <br />A total of $410,566 was deposited into the LMIHAF during the Fiscal Year. Of the total funds <br />deposited into the LMIHAF, a total of $0 was held for items listed on the ROPS. <br />II.ENDING BALANCE OF LMIHAF <br />At the close of the Fiscal Year, the ending balance in the LMIHAF was $5,039,275 of which $0 <br />is held for items listed on the ROPS. <br />III.DESCRIPTION OF EXPENDITURES FROM LMIHAF <br />The following is a description of expenditures from the LMIHAF by category: <br />FY 2021/22 <br />Monitoring & Administration Expenditures 1 $ 267,393 <br />Homeless Prevention and Rapid Rehousing Services Expenditures $0 <br />Housing Development Expenditures <br /> Expenditures on Moderate Income Units $0 <br /> Expenditures on Low Income Units $0 <br /> Expenditures on Very-Low Income Units $0 <br /> Expenditures on Extremely-Low Income Units $0 <br /> Total Housing Development Expenditures $0 <br />Total LMIHAF Expenditures in Fiscal Year2 $ 267,393 <br />____________________________ <br />1 The independent financial audit of the LMIHAF includes an adjustment of ($835,546) for bad debt <br />expenses for loans receivable, for a total adjusted expenditure of ($568,153). <br />2 Including the additional item from footnote 1 above, $150,000 for a reimbursement for The Crossrods at <br />Washington project, the total LMIHAF per the audit is ($418,153). <br />EXHIBIT 1 <br /> <br />City Council 6 – 5 1/17/2023 <br />