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HomeMy WebLinkAboutED Housing AssetsDepartment: Economic Development Agenda Item No: 3. d Meeting Date: December 15, 2014 Prepared by: Stephanie Lovette, Manager-, City Manager Approval� SUBJECT': Approval of Report on the Housing Assets and Expenditures of the Former Redevelopment Agency Pursuant to Health and Safety Code 34176.1. (F) RECOMMENDATION: Staff recommends that the City Council accept the report. BACKGROUND: All California redevelopment agencies, including the San Rafael Redevelopment Agency ("Redevelopment Agency") were dissolved on February 1, 2012. The City of San Rafael now holds the former Redevelopment Agency's unobligated housing funds. On October 0, 2013 the Governor signed Senate Bill 341 addressing allowable expenditures of affordable housing funds of the former Redevelopment Agencies, requiring annual reporting of such expenditures, and a review of the financial audit on the housing funds. ANALYSIS: Attachment A provides the required infon-nation on the housing fund assets and expenditures, The housing tund audit was a component of the annual City audit which was approved by the City Council on November 3, 2014 FISCAL IMPACT: None for this action. ACTION REQUIRED: Accept the report or direct staffto make changes to the report. Staff recommends the Agency accept the report, ATTACHMENT A: 34176.1 (F) Report FOR CITY CLERK ONLY File Na.: 140 Council Meeting: Disposition: 1 -41[ RESOLUTION NO. 13849 RESOLUTION APPROVING REPORT ON THE HOUSING ASSETS AND EXPENDITURES OF THE FORMER REDEVELOPMENT AGENCY PURSUANT TO HEALTH AND SAFETY CODE 34176.1(F) WHEREAS, the California State Legislature enacted Assembly Bill xI 26 ("Dissolution Act") to dissolve redevelopment agencies formed under the Community Redevelopment Law (Ilealth and Safety Code Section 33000 qt_seq.); and WHEREAS, on December 29, 2011, the California Supreme Court delivered its decision in the California Redeveloptnent Association v, Mato..mntos case, finding the Dissolution Act largely constitutional, with the result that all California redevelopment agencies,, including the Redevelopment Agency of the City of San Rafael ("Redevelopment Agency"), would be dissolved on February 1, 2012; and WHEREAS, on January 3. 201.2 and pursuant to Ilealth and Safety Code Section 341.76, the City Council of the City of San Rafael ("City Council") adopted Resolution No. 13279 electing that the City of San Rafael, a municipal corporation ("City"), would retain the housing assets and housing functions of the dissolved Redevelopment Agency (the "Housing Successor") effective February 1, 2012; and WIJERFAS, on February 1, 2012, the Redevelopment Agency was dissolved pursuant. to Health and Safety Code Section 34172; and WHEREAS, the City as the Housing Successor now holds the former Redevelopment Agency's housing assets and is charged with using any such assets and any future deposits into the Low and Moderate Income Housing Asset Fund to implement the affordable housing provisions of the Community Redevelopment Law"; and WHEREAS, on June 27, 2012, the State Legislature passed, and the Governor signed, Assembly Bill 1484 ("AB 1484"), which makes clean-up amendments to the Dissolution Act and adds several new procedures to the process of winding -down the affairs of the former Redevelopment Agency; and WHEREAS, on October 13, 2013 the Governor signed Senate Bill 341 to address allowable uses of housing assets and expenditures of affordable housing funds by the 11OLISing Successor and required reporting of the use of such assets and expenditures of such funds; and WHEREAS, Senate Bill 341 resulted in the amendment of Health and Safety Code 34176 and the addition of a new Health and Safety Code Section 34176.1; and 14 1,0 1 � 1621939 2 WHEREAS, on November 3, 2014 the City Council approved the City of San Rafael Annual Financial Report and Audit which included an accounting of the Low and Moderate Income Housing Asset Fund ("Fund Audit") held by the City of San Rafael as the Housing Successor; and WHEREAS, staff has prepared a report that details additional information with regard to the Housing Successor's affordable housing activities as required in Health and Safety Code Section 34176.1(F). NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of San Rafael, acting in its capacity as the Housing Successor, hereby accepts the Health and Safety Code Section 34176.1 (F) report prepared by staff and authorizes filing of this report as required by statute and the posting of this report and the Fund Audit on the City website as required by Health and Safety Code Section 34176.1 (F). 1. Esther C. Beirne, Clerk of the City of San Rafael hereby certify that the foregoing Resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of the City of San Rafael, held on Monday, the fifteenth day of December :2'0 14, by the following vote, to wit: AYES: Members: Bushey, Colin., Gamblin, McCullough & Mayor Phillips N 0 F'S: Members: None ABSENT: Members: None "jg6� a--- - A20-Zx--,- , Esther C. Beirne, City Clerk 2 14 1 \01\16219392 ATTACHMENT A City of San Rafael Housing Successor Agency ("HSA") 1 0. SM. . f' M. M We =9,, V Fiscal Year 2013-14 Amount deposited into housing fund during Fiscal Year $ 501,496 Total Balance of housing Fund at close of Fiscal Year $1,003,737 . .. . . ..... . .... — - ---- Balance available for pro $ 557,870 Expenditures of fund for: Monitoring & preserving existing affordable units $ 189,93 Homeless prevention & $ — 0 Development of housing $ 0 -Value of housing —assets owned by the Agency $ 0 No assets owned Value of Loans/Grants receivable 122,163 Transfers made 0 Properties held by HSA which HSA receives property tax None revenue HSA interests in real prooertv- compliance with 33334.16 No interests -- — ------- - — - ------- Outstanding obligations pursuant to HSC 33413 No obligation. SRRDA did not initiate any housing development which resulted in loss of affordable units Total number of Deed Restricted units in the City (Agency 1,313 and City) Total number of Deed Restricted units in City restricted to 394 seniors -P—erc-e4a—aeof senior —units to non -senior —units 30% Amount of Excess surplus of former RDA- HSC 33334.12 None. Agency never had an excess surplus INSTRUCTIONS: FBIMSUBIMMM • CITY OF SAN RAFAEL Stephanie Lovette Economic Development Successor/ SRCC AGENDA ITEM NO. 3.8 DATE OF MEETING: 12/15/2014 TITLE OF DOCUMENT: Approval of Report on the Housing Assets and Expenditures of the Former Redevelopment Agency Pursuant to Health and Safety Code 34176.1 (F) Depament Head (signature) (LOWER HALF OF FORM FOR APPROVALS ONLY) APPROVED AS COUNCIL/ AGENCY APPROVED AS TO FORM: ITEM: City Manager (signature) City Attorney (signature) REMARKS: L A