Laserfiche WebLink
REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY <br />ACTION <br />CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br />DECEMBER 15, 2015 <br />TITLE: APPROVED <br />HOUSING SUCCESSOR ANNUAL <br />REPORT FOR FY 2014-15 – LOW AND <br />MODERATE INCOME HOUSING ASSET <br />FUND {STRATEGIC PLAN NO. 5, 1} <br /> As Recommended <br /> As Amended <br /> Ordinance on 1st Reading <br /> Ordinance on 2nd Reading <br /> Implementing Resolution <br /> Set Public Hearing For__________ <br />CONTINUED TO <br />FILE NUMBER <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />Receive and file <br />HOUSING AUTHORITY ACTION <br />Receive and file. <br />DISCUSSION <br />Pursuant to the Dissolution Act, the City Council on January 9, 2012, designated the Housing <br />Authority as the Successor Housing Agency to the dissolved Community Redevelopment Agency <br />of the City of Santa Ana (RDA). Effective February 1, 2012, the Housing Authority retained the <br />housing assets, duties, functions and obligations of the former RDA and continued to complete <br />the housing development projects encumbered prior to the dissolution of the RDA. <br />Senate Bill (SB) 341, signed by the Governor on October 1, 2013, amended the Health & Safety <br />Code Section 34176 and addresses functions to be performed by the Housing Successor <br />Agencies. This bill, effective January 2014, requires all housing successor agencies to provide <br />an annual report (Exhibit 1) to its governing body within six months after the end of the fiscal <br />year, starting with FY 2013-14. Among the requirements is an independent financial audit of the <br />Low and Moderate Income Housing Asset Fund (LMIHAF), and information regarding specific <br />housing financial data and activities. The independent financial audit of the LMIHAF is included <br />in the City’s Comprehensive Annual Financial Report (CAFR) for FY 2014-15, as prepared by the <br />Finance and Management Services Agency and posted on the City’s website at <br />http://www.santa-ana.org/finance/cafr/default.asp. <br />6-1