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Exhibit 1 <br />HOUSING SUCCESSOR ANNUAL REPORT <br />REGARDING THE <br />LOW AND MODERATE INCOME HOUSING ASSET FUND <br />FOR FISCAL YEAR 2016-2017 <br />PURSUANT TO <br />CALIFORNIA HEALTH AND SAFETY CODE SECTION 34176.1(f) <br />FOR THE <br />HOUSING AUTHORITY OF THE CITY OF SANTA ANA <br />This Housing Successor Annual Report (Report) regarding the Low and Moderate Income <br />Housing Asset Fund (LMIHAF) has been prepared pursuant to California Health and Safety <br />Code Section 34176.1(f) and is dated as of December 19, 2017. This Report sets forth certain <br />details of the Housing Authority of the City of Santa Ana (Housing Successor) activities during <br />Fiscal Year 2016-2017 (Fiscal Year). The purpose of this Report is to provide the governing <br />body of the Housing Successor an annual report on the housing assets and activities of the <br />Housing Successor under Part 1.85, Division 24 of the California Health and Safety Code, in <br />particular sections 34176 and 34176.1 (Dissolution Law). <br />The following Report is based upon information prepared by Housing Successor staff and <br />information contained within the independent financial audit of the Low and Moderate Income <br />Housing Asset Fund, as incorporated in the City of Santa Ana Comprehensive Annual Financial <br />Report for Fiscal Year 2016-2017 (Fiscal Year) as prepared by White Nelson Diehl Evans LLP <br />(Audit), which Audit is separate from this annual summary Report; further, this Report conforms <br />with and is organized into sections I. through XI., inclusive, pursuant to Section 34176.1(f) of the <br />Dissolution Law: <br />Amount Deposited into LMIHAF: This section provides the total amount of funds <br />deposited into the LMIHAF during the Fiscal Year. Any amounts deposited for items <br />listed on the Recognized Obligation Payment Schedule (ROPS) must be distinguished <br />from the other amounts deposited. <br />It. Ending Balance of LMIHAF: This section provides a statement of the balance in the <br />LMIHAF as of the close of the Fiscal Year. Any amounts deposited for items listed on <br />the ROPS must be distinguished from the other amounts deposited. <br />Ill. Description of Expenditures from LMIHAF: This section provides a description of the <br />expenditures made from the LMIHAF during the Fiscal Year. The expenditures are to be <br />categorized. <br />IV. Statutory Value of Assets Owned by Housing Successor: This section provides the <br />statutory value of real property owned by the Housing Successor, the value of loans and <br />grants receivables, and the sum of these two amounts. <br />HOUSING AUTHORITY OF THE CITY OF SANTA 810*236/17 Page 1 <br />