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EXHIBIT 1 <br />The LMIHAF has an Excess Surplus. (Refer to calculation below.) <br />Fund Balance — June 30_ 2025 <br />Less Unavailable Amounts: <br />Loans and notes <br />Land held for resale <br />Restricted cash and investments with fiscal agent <br />Liabilities — Accounts parables & deposits <br />Deferred inflows of revenues <br />Project Commitments and Monitoring <br />Available Low Income Housing Funds <br />Limitation (Greater of $1.000.000 or Four Years Deposits): <br />Aggregate amounts deposited for preceding four fiscal gears <br />2021 — 2022 <br />2022 — 2023 <br />2023 — 2024 <br />2024 — 2026 <br />Total deposits for the preceding four fiscal years <br />Base limitation <br />Greater Amount <br />Computed Excess Surplus — June 30_ 2025 <br />XII. INVENTORY OF HOMEOWNERSHIP UNITS <br />1.246.112 <br />483.794 <br />317.160 <br />306.772 <br />2.352.838 <br />1.000.000 <br />$26.791.686 <br />1.22.666.387) <br />(76.000) <br />(185.962) <br />(1.632) <br />f6.009) <br />(166.695) <br />3.792.001 <br />2.362.838 <br />1.439.163 <br />(A) As of June 30, 2025, there was a total of 53 homeownership units and 912 rental <br />units subject to covenants or restrictions. Of this total, all 965 units had <br />affordability restrictions. <br />(B) During FY 2023-24, one (1) single family unit was lost to the portfolio as the <br />borrowers paid off the loans earlier than the original maturity date. <br />HOUSING AUTHORITY OF THE CITY OF SANTA ANA — FY 2024/25 Page 9 <br />