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2025 General Plan Annual Progress Report <br /> Attachment C <br /> X. SENIOR HOUSING TEST <br /> The Housing Successor is to calculate the percentage of units of deed-restricted rental housing <br /> restricted to seniors and assisted by the Housing Successor, the former redevelopment agency <br /> and/or the City within the previous 10 years in relation to the aggregate number of units of <br /> deed-restricted rental housing assisted by the Housing Successor, the former redevelopment <br /> agency and/or City within the same time period. If this percentage exceeds 50%, then the <br /> Housing Successor cannot expend future funds in the LMIHAF to assist additional senior <br /> housing units until the Housing Successor or City assists and construction has commenced on a <br /> number of restricted rental units that is equal to 50% of the total amount of deed-restricted rental <br /> units. <br /> The following provides the Housing Successor's Senior Housing Test for the 10 year period of <br /> FY 15-16 to FY 24-25: <br /> Senior Housing Test 1/l/2015— 12/31/2024 <br /> # of Assisted Senior Rental Units 0 <br /> # of Total Assisted Rental Units 0 <br /> Senior Housing Percentage 0% <br /> XI. EXCESS SURPLUS TEST <br /> Excess Surplus is defined in Section 34176.1(d) as an unencumbered amount in the account <br /> that exceeds the greater of one million dollars ($1,000,000) or the aggregate amount deposited <br /> into the account during the Housing Successor's preceding four Fiscal Years, whichever is <br /> greater. <br /> The following provides the Excess Surplus test for the preceding four Fiscal Years: <br /> FY i i - FY 2024/25 <br /> Beginning Balance $26,417,704 $27,246,424 $27,621,931 $26,737,288 <br /> Add: Deposits $1,246,112 $483,734 $317,160 $305,772 <br /> (Less) Expenditures $417,392 $108,227 $1,201,803 $251,374 <br /> Ending Balance $27,246,424 $27,621,931 $26,737,288 $26,791,686 <br /> H USING AUTHORITY OF THE CITY OF SANTA ANA—FY 2024/25 C- 8 of 10 <br />