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REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY ;rp <br />ACTION <br />CITY COUNCIL MEETING DATE: <br />DECEMBER 20, 2016 <br />TITLE: <br />HOUSING SUCCESSOR ANNUAL <br />REPORT FOR FY 2015-16 — LOW AND <br />MODERATE INCOME HOUSING ASSET <br />FUND (STRATEGIC PLAN NO. 5, 1) <br />CITY MANAG EXECU DIR CTOR <br />E <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />Receive and file. <br />HOUSING AUTHORITY ACTION <br />Receive and file. <br />DISCUSSION <br />CLERK OF COUNCIL USE ONLY: <br />❑ <br />As Recommended <br />❑ <br />As Amended <br />❑ <br />Ordinance on 1" Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Pursuant to the Dissolution Act, the City Council on January 9, 2012, designated the Housing <br />Authority as the Successor Housing Agency to the dissolved Community Redevelopment Agency <br />of the City of Santa Ana (RDA). Effective February 1, 2012, the Housing Authority retained the <br />housing assets, duties, functions and obligations of the former RDA and continued to complete <br />the housing development projects encumbered prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health & Safety <br />Code Section 34176 and addresses functions to be performed by the Housing Successor <br />Agencies. This bill, effective January 2014, requires all housing successor agencies to provide <br />an annual report to its governing body within six months after the end of the fiscal year (FY), <br />starting with FY 2013-14. Among the requirements is an independent financial audit of the Low <br />and Moderate Income Housing Asset Fund (LMIHAF), and information regarding specific housing <br />financial data and activities. The independent financial audit of the LMIHAF is included in the <br />City's Comprehensive Annual Financial Report (CAFR) for FY 2015-16, as prepared by the <br />Finance and Management Services Agency and posted on the City's website at <br />http:/Iwww.santa-ana.org/finance/cafr/defauIt.asp. <br />80A-1 <br />