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<br /> <br /> <br /> REQUEST FOR <br /> <br /> COUNCIL ACTION <br /> <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> <br /> SEPTEMBER 20, 2010 <br /> TITLE: APPROVED <br /> ? As Recommended <br /> SANTA ANA EMPOWERMENT ? As Amended <br /> CORPORATION FINANCIAL AUDIT El Ordinance on 1ST Reading <br /> ? Ordinance on 2"d Reading <br /> FOR FY 2009-2010 AND DISSOLUTION OF ? Implementing Resolution <br /> THE SANTA ANA EMPOWERMENT ? Set Public Hearing For <br /> CORPORATION <br /> CONTINUED TO <br /> FILE NUMBER <br /> CITY MANAGER <br /> <br /> RECOMMENDED ACTION <br /> <br /> 1. Approve the closing Financial Audit of the Santa Ana Empowerment Corporation for fiscal year <br /> 2009-2010 as prepared by Macias Gini & O'Connell LLP. <br /> 2. Authorize the City Attorney and City Manager to proceed with the dissolution of the Santa Ana <br /> Empowerment Corporation. <br /> <br /> DISCUSSION <br /> <br /> The City of Santa Ana received a Federal Empowerment Zone designation in 1999 from the <br /> Department of Housing and Urban Development (HUD). This designation expired on December 31, <br /> 2009. As part of the Empowerment Zone requirements, an A-133 audit is necessary. The Santa Ana <br /> Empowerment Corporation (SAEC) contracted with Macias Gini & O'Connell LLP to conduct a final <br /> financial audit of the Corporation that was established to oversee and implement the grant on behalf <br /> of the City. <br /> <br /> The financial audit took place the week of August 9, 2010. The auditors found no material issues and <br /> determined that the SAEC was in compliance with the Nonprofit Integrity Act of 2004. A copy of the <br /> audit will be submitted to HUD for its records and the City Attorney will proceed with dissolving the <br /> Santa Ana Empowerment Corporation with the Secretary of State. <br /> FISCAL IMPACT <br /> <br /> There is no fiscal impact associated with this action. <br /> <br /> <br /> <br /> Cynthia J. Nelson <br /> Deputy City Manager for Development Services <br /> Community Development Agency <br /> CJN/LAS/DS/mlr <br /> <br /> Exhibit: 1. Financial Audit <br /> 19C-1 <br />