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Community Development Agency <br />santa-ana.org/community-development <br />Item # 3 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />January 16, 2024 <br />TOPIC: Housing Successor Annual Report: FY 2022-23 <br />AGENDA TITLE <br />Housing Successor Annual Report for FY 2022-23 – Low and Moderate Income <br />Housing Asset Fund <br />RECOMMENDED ACTION <br />Receive and file. <br />GOVERNMENT CODE §84308 APPLIES: No <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, <br />the Housing Authority retained the housing assets, duties, functions, and obligations of <br />the former RDA and continued to complete the housing development projects <br />encumbered prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health <br />and 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 not completed in time to place on the <br />December 19, 2023 City Council meeting, therefore, this report was delayed. The <br />financial audit is included in the City’s Annual Comprehensive Financial Report (ACFR) <br />for FY 2022-23, as prepared by the Finance and Management Services Agency and <br />posted on the City’s website at https://www.santa-ana.org/financial-reports/. <br />Assembly Bill (AB) 1793, signed by the Governor on September 27, 2014, further <br />amended HSC Section 34176.1 to require housing successor agencies to include <br />additional information on homeownership units assisted by the former RDA or housing <br />successor that are subject to covenants or restrictions. The FY 2017-18 annual report