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Community Development Agency <br />santa-ana.org/cd <br />Item # 6 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />January 17, 2023 <br />TOPIC: Housing Successor Annual Report FY 2021-22 <br />AGENDA TITLE: <br />Housing Successor Annual Report for FY 2021-22 – Low and Moderate Income <br />Housing Asset Fund <br />RECOMMENDED ACTION <br />Receive and file. <br />DISCUSSION <br />Pursuant to the Dissolution Act, on January 9, 2012 the City Council designated the <br />Housing Authority as the Successor Housing Agency to the dissolved Community <br />Redevelopment Agency of the City of Santa Ana (RDA). Effective February 1, 2012, the <br />Housing Authority retained the housing assets, duties, functions and obligations of the <br />former RDA and continued to complete the housing development projects encumbered <br />prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health <br />& Safety Code (HSC) Section 34176 and addresses functions to be performed by the <br />housing successor agencies. This bill, effective January 2014, required all housing <br />successor agencies to provide an annual report to its governing body within six months <br />after the end of the fiscal year, starting with FY 2013-14. Among the requirements is an <br />independent financial audit of the Low and Moderate Income Housing Asset Fund <br />(LMIHAF), and information regarding specific housing financial data and activities. The <br />independent financial audit of the LMIHAF was completed after the December 20, 2022 <br />City Council Meeting and, therefore, this report was delayed. The financial audit is <br />included in the City’s Annual Comprehensive Financial Report (ACFR) for FY 2021-22, <br />as prepared by the Finance and Management Services Agency and posted on the City’s <br />website at www.santa-ana.org/financial-reports/ . <br />Assembly Bill (AB) 1793, signed by the Governor on September 27, 2014, further <br />amended HSC § 34176.1 to require housing successor agencies to include additional <br />information on homeownership units assisted by the former RDA or housing successor