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Housing Successor Annual Report FY 2024-25 <br />January 20, 2026 <br />Page 2 <br />Pursuant to the Dissolution Act, the City Council on January 9, 2012, designated the <br />Housing Authority as the Successor Housing Agency to the dissolved Community <br />Redevelopment Agency of the City of Santa Ana (RDA). Effective February 1, 2012, <br />the Housing Authority retained the housing assets, duties, functions, and obligations of <br />the former RDA and continued to complete the housing development projects <br />encumbered prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health <br />& Safety Code (HSC) Section 34176 and addresses functions to be performed by the <br />housing successor agencies. This bill, effective January 2014, required all housing <br />successor agencies to provide an annual report to its governing body within six months <br />after the end of the fiscal year, starting with FY 2013-14. Among the requirements is an <br />independent financial audit of the Low and Moderate Income Housing Asset Fund <br />(LMIHAF) and information regarding specific housing financial data and activities. The <br />independent financial audit of the LMIHAF was completed as part of the City's Annual <br />Comprehensive Financial Report (ACFR) for FY 2024-25, as prepared by the Finance <br />and Management Services Agency and posted on the City's website at <br />https://www.santa-ana.org/financial-reports/ . <br />Assembly Bill (AB) 1793, signed by the Governor on September 27, 2014, further <br />amended HSC § 34176.1 to require housing successor agencies to include additional <br />information on homeownership units assisted by the former RDA or housing successor <br />that are subject to covenants or restrictions. The FY 2017-18 annual report included <br />this additional information and any changes that occurred in the last fiscal year are <br />identified in the FY 2024-25 annual report (Exhibit 1). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Housing Successor Annual Report FY 2024-25 <br />Submitted By: Michael L. Garcia, Executive Director, Community Development Agency <br />Approved By: Alvaro Nunez, City Manager <br />