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EXHIBIT 1 <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 112/31/2024 <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 />Beginning Balance <br />FY 1 <br />$26,417,704 <br />1 <br />$27,246,424 <br />12024/25 <br />$27,621,931 <br />$26,737,288 <br />Add: Deposits <br />$1,246,112 <br />$483,734 <br />$317,160 <br />$305,772 <br />(Less) Expenditures <br />$417,392 <br />$108,227 <br />$1,201,803 <br />$251,374 <br />Ending Balance <br />$27,246,424 <br />$27,621,931 <br />$26,737,288 <br />$26,791,686 <br />H USING AUTHORITY OF THE CITY OF SANTA ANA — FY 2024125 Page 8 <br />