That the City of La Habra Housing Authority approve the SB 341 Housing Successor Annual Report for Fiscal Year 2019-2020 pursuant to Health and Safety Code Section 34176.1(f), and authorize staff to post the report on the City website. 

Health and Safety Code Section 34176.1(f) requires Housing Successors to provide to its governing body an independent financial audit of the Low and Moderate Income Housing Asset Fund (“LMIHAF”) and a report of housing assets and activities after the end of each fiscal year.  The purpose of the report is to provide the governing body of the Housing Successor an annual report on the housing assets and activities of the Housing Successor under Part 1.85, Division 24 of the California Health and Safety Code, in particular Sections 34176 and 34176.1 (“Dissolution Law”).

The report should include the following:

The attached report describes in detail each section outlined above.  Housing Successors are not required to submit the report to the Department of Finance or Housing and Community Development but are required to upload the report to their website.  In addition to the posting of the Housing Successor Annual Report, the City has retained an independent auditor and reports the results of their audit in the City's Comprehensive Annual Financial Report (“CAFR”).  The CAFR includes both revenues and expenditures of the LMIHAF during Fiscal Year 2019-2020.