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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 Test 1/1/2015– 12/31/2024 <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 />FY 2021/22FY 2022/23FY 2023/24FY 2024/25 <br />Beginning Balance$26,417,704 $27,246,424 $27,621,931 $26,737,288 <br />Add: Deposits$1,246,112 $483,734 $317,160 $305,772 <br />(Less) Expenditures$417,392 $108,227 $1,201,803 $251,374 <br />Ending Balance$27,246,424 $27,621,931 $26,737,288 $26,791,686 <br />HOUSING AUTHORITY OF THE CITY OF SANTA ANA – FY 2024/25 <br /> <br />