Report to Housing Authority
Tuesday, May 02, 2017
Consent
SUBJECT:
Title
SUBMITTAL OF THE CARSON HOUSING AUTHORITY'S ANNUAL REPORT AS REQUIRED BY STATE SENATE BILL 341 (HOUSING AUTHORITY)
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I. SUMMARY
Following the dissolution of redevelopment in California a number of bills were passed by the state to clarify certain provisions of Assembly Bill X1 26 (the "Dissolution Act"). Under the Dissolution Act, housing successors received housing assets of their former redevelopment agencies and were obligated to monitor existing housing assets and meet the housing requirements of their former redevelopment agencies. Senate Bill 341 (SB 341) was enacted in 2013 and imposed new housing requirements on housing successors. The City of Carson (City) elected to have the Carson Housing Authority (Authority) serve as the housing successor to the former Carson Redevelopment Agency. As part of the new requirements under SB 341, the Authority must provide an annual housing report (Annual Report) to the Authority Board and post the report online. The Authority's Annual Report is provided in this staff report as Exhibit No. 1.
II. RECOMMENDATION
Recommendation
RECEIVE and FILE.
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III. ALTERNATIVES
TAKE ANOTHER ACTION THE BOARD DEEMS APPROPRIATE.
IV. BACKGROUND
The Authority's Annual Report provides information regarding the Authority's activities in Fiscal Year 15-16. The report includes information on housing fund expenditures, real property held by the Authority and expenditure targeting by income level. A summary of key sections in the Authority's Annual Report is provided below; please refer to Exhibit No. 1 for details.
* Housing Fund Deposits: Amounts deposited by the Authority into the housing asset fund for the entire Fiscal Year 15-16 was $1.71 million.
* Housing Fund Balance: The balance in the housing asset fund as of June 30, 2016 was $22.9 million, the majority of the funds are bond proceeds issued in 2010 for housing purposes.
* Re...
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