Senate BillNo. 341


Introduced by Senator DeSaulnier

February 20, 2013


An act to amend Section 34176 of, and to add Section 34176.1 to, the Health and Safety Code, relating to redevelopment.

LEGISLATIVE COUNSEL’S DIGEST

SB 341, as introduced, DeSaulnier. Redevelopment.

(1) Existing law dissolved redevelopment agencies and community development agencies, and provided for the designation of successor agencies that are required to wind down the affairs of the dissolved redevelopment agencies and to, among other things, make payments due for enforceable obligations, as defined. Existing law provides that the city, county, or city and county that authorized the creation of a redevelopment agency may elect to retain the housing assets and functions previously performed by the redevelopment agency. Existing law requires the entity assuming the housing functions of the former redevelopment agency to perform various functions.

This bill would change provisions relating to the functions to be performed by the entity assuming the housing functions of the former redevelopment agency to instead refer to the housing successor.

(2) Existing law provides that any funds transferred to the city, county, or city and county or the entity assuming the housing functions of the former redevelopment agency, together with any funds generated from housing assets, shall be maintained in a separate Low and Moderate Income Housing Asset Fund which shall be used in accordance with applicable housing-related provisions of the Community Redevelopment Law, as specified.

This bill would provide that funds in the Low and Moderate Income Housing Asset Fund shall be used in accordance with applicable housing-related provisions of the Community Redevelopment Law, except as specified. The bill would require the housing successor to expend funds in the Low and Moderate Income Housing Asset Fund, other than those expended to meet enforceable obligations, for the purpose of monitoring and preserving the long-term affordability of units subject to affordability restrictions or covenants entered into by the redevelopment agency or the housing successor, for homeless prevention and rapid rehousing services to individuals and families who are homeless or would be homeless but for this assistance, and for the development of affordable housing, as specified.

(3) Existing law requires that moneys in the Low and Moderate Income Housing Fund be used to assist housing for persons of low income and housing for persons of very low income in at least the same proportion as the total number of housing units needed for each of those income groups bears to the total number of units needed for persons of moderate, low, and very low income within the community, as specified.

This bill would provide that these provisions shall not apply, and would instead require that if the aggregate number of units of deed-restricted rental housing restricted to seniors and assisted by the housing successor, its former redevelopment agency, and its host jurisdiction within the previous 10 years exceeds 50% of the aggregate number of units of deed-restricted rental housing assisted by the housing successor, its former redevelopment agency, and its host jurisdiction within the same time period, then the housing successor shall not expend these funds to assist additional senior housing units until the housing successor or its host jurisdiction assists, and construction has started on, a number of units available to all persons regardless of age that is equal to 50% of the aggregate number of units of deed-restricted rental housing units assisted by the housing successor, its former redevelopment agency, and its host jurisdiction within the same time period.

(4) Existing law requires that a specified percentage of all taxes that are allocated to a former redevelopment agency be used outside a specified project area upon a resolution of the agency and the legislative body that the use will be of benefit to the project.

This bill would provide that program income a housing successor receives shall not be associated with a project area and may be expended anywhere within the jurisdiction of the housing successor or transferred for the purpose of developing transit priority projects, permanent supportive housing, housing for agricultural employees, or special needs housing, without a finding of benefit to a project area, as specified. The bill would also authorize two or more housing successores, as specified, to agree to transfer funds among their respective Low and Moderate Income Housing Asset Funds, as specified.

(5) Existing law provides that if excess surplus accumulates in the Low and Moderate Income Housing Fund, the former redevelopment agency may adopt a plan for expenditure of the moneys. Existing law also requires that upon failure of the former redevelopment agency to expend or encumber excess surplus in the Low and Moderate Income Housing Fund, it shall be required to disburse, expend, or encumber its excess surplus, as specified.

This bill would provide that these provisions shall not apply, and would instead provide that if a housing successor has an excess surplus, the housing successor shall encumber the excess surplus for specified purposes or transfer the funds within 3 fiscal years. The bill would provide that if the housing successor fails to comply with this subdivision, the housing successor, within 90 days of the end of the 3rd fiscal year, shall transfer any excess surplus to the Department of Housing and Community Development for expenditure pursuant to the Multifamily Housing Program or the Joe Serna, Jr. Farmworker Housing Grant Program.

(6) Existing law requires a former redevelopment agency, for each interest in real property acquired using moneys from the Low and Moderate Income Housing Fund, to, within 5 years from the date it first acquires the property interest for the development of housing affordable to persons and families of low- and moderate-income, initiate activities consistent with the development of the property for that purpose. Existing law provides that in the event that physical development of the property for this purpose has not begun by the end of a specified time period, or if the former redevelopment agency does not comply with this requirement, the property shall be sold and the moneys from the sale, less reimbursement to the agency for the cost of the sale, shall be deposited in the Low and Moderate Income Housing Fund.

This bill would provide that these provisions shall not apply to interests in real property acquired on or after February 1, 2012, and that with respect to interests in real property acquired by the former redevelopment agency prior to February 1, 2012, the specified time periods shall be deemed to have commenced on the date that the Department of Finance approved the property as a housing asset.

(7) Existing law requires every former redevelopment agency to submit the final report of any audit undertaken and an annual report to its legislative body, as specified. Existing law also requires the Controller to compile and publish annually reports of the financial transactions of each former community redevelopment agency, to make the data available to the Legislature and its agents upon request, and to publish this information for each project area of each redevelopment agency.

This bill would provide that these provisions shall not apply to and, instead, would require the housing successor to conduct and provide to its governing body an independent financial audit of the Low and Moderate Income Asset Fund. It would also require the housing successor to post specified information on its Internet Web site.

Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.

The people of the State of California do enact as follows:

P4    1

SECTION 1.  

Section 34176 of the Health and Safety Code is
2amended to read:

3

34176.  

(a) (1) The city, county, or city and county that
4authorized the creation of a redevelopment agency may elect to
5retain the housing assets and functions previously performed by
6the redevelopment agency. If a city, county, or city and county
7elects to retain the authority to perform housing functions
8previously performed by a redevelopment agency, all rights,
9powers, duties, obligations, and housing assets, as defined in
10subdivision (e), excluding any amounts on deposit in the Low and
11Moderate Income Housing Fund and enforceable obligations
12retained by the successor agency, shall be transferred to the city,
13county, or city and county.

14(2) The begin delete entity assuming the housing functions of the former
15redevelopment agencyend delete
begin insert housing successorend insert shall submit to the
16Department of Finance by August 1, 2012, a list of all housing
17assets that contains an explanation of how the assets meet the
18criteria specified in subdivision (e). The Department of Finance
19shall prescribe the format for the submission of the list. The list
20shall include assets transferred between February 1, 2012, and the
21date upon which the list is created. The department shall have up
22to 30 days from the date of receipt of the list to object to any of
P5    1the assets or transfers of assets identified on the list. If the
2Department of Finance objects to assets on the list, thebegin delete entity
3assuming the housing functions of the former redevelopment
4agencyend delete
begin insert housing successorend insert may request a meet and confer process
5within five business days of receiving the department objection.
6If the transferred asset is deemed not to be a housing asset as
7defined in subdivision (e), it shall be returned to the successor
8agency and the provision of Section 34178.8 may apply. If a
9housing asset has been previously pledged to pay for bonded
10indebtedness, the successor agency shall maintain control of the
11asset in order to pay for the bond debt.

12(b) If a city, county, or city and county does not elect to retain
13the responsibility for performing housing functions previously
14performed by a redevelopment agency, all rights, powers, assets,
15duties, and obligations associated with the housing activities of
16the agency, excluding enforceable obligations retained by the
17successor agency and any amounts in the Low and Moderate
18Income Housing Fund, shall be transferred as follows:

19(1) If there is no local housing authority in the territorial
20jurisdiction of the former redevelopment agency, to the Department
21of Housing and Community Development.

22(2) If there is one local housing authority in the territorial
23jurisdiction of the former redevelopment agency, to that local
24housing authority.

25(3) If there is more than one local housing authority in the
26territorial jurisdiction of the former redevelopment agency, to the
27local housing authority selected by the city, county, or city and
28county that authorized the creation of the redevelopment agency.

29(c) Commencing on the operative date of this part, thebegin delete entity
30that assumes the housing functions formerly performed by the
31redevelopment agency and receives the transferred housing assetsend delete

32begin insert housing successorend insert may enforce affordability covenants and perform
33related activities pursuant to applicable provisions of the
34Community Redevelopment Law (Part 1 (commencing with
35Section 33000)), including, but not limited to, Section 33418.

36(d) Except as specifically provided in Section 34191.4, any
37funds transferred to thebegin delete city, county, or city and county or
38designated entity pursuant to this sectionend delete
begin insert housing successorend insert,
39together with any funds generated from housing assets, as defined
40in subdivision (e), shall be maintained in a separate Low and
P6    1Moderate Income Housing Asset Fund which is hereby created in
2the accounts of thebegin delete entity assuming the housing functions pursuant
3to this section. Funds in this account shall be used in accordance
4with applicable housing-related provisions of the Community
5Redevelopment Law (Part 1 (commencing with Section 33000))end delete

6begin insert housing successorend insert.

7(e) For purposes of this part, “housing asset” includes all of the
8following:

9(1) Any real property, interest in, or restriction on the use of
10real property, whether improved or not, and any personal property
11provided in residences, including furniture and appliances, all
12housing-related files and loan documents, office supplies, software
13licenses, and mapping programs, that were acquired for low- and
14moderate-income housing purposes, either by purchase or through
15a loan, in whole or in part, with any source of funds.

16(2) Any funds that are encumbered by an enforceable obligation
17to build or acquire low- and moderate-income housing, as defined
18by the Community Redevelopment Law (Part 1 (commencing with
19Section 33000)) unless required in the bond covenants to be used
20for repayment purposes of the bond.

21(3) Any loan or grant receivable, funded from the Low and
22Moderate Income Housing Fund, from homebuyers, homeowners,
23nonprofit or for-profit developers, and other parties that require
24occupancy by persons of low or moderate income as defined by
25the Community Redevelopment Law (Part 1 (commencing with
26Section 33000)).

27(4) Any funds derived from rents or operation of properties
28acquired for low- and moderate-income housing purposes by other
29parties that were financed with any source of funds, including
30residual receipt payments from developers, conditional grant
31repayments, cost savings and proceeds from refinancing, and
32principal and interest payments from homebuyers subject to
33enforceable income limits.

34(5) A stream of rents or other payments from housing tenants
35or operators of low- and moderate-income housing financed with
36any source of funds that are used to maintain, operate, and enforce
37the affordability of housing or for enforceable obligations
38associated with low- and moderate-income housing.

39(6) (A) Repayments of loans or deferrals owed to the Low and
40Moderate Income Housing Fund pursuant to subparagraph (G) of
P7    1paragraph (1) of subdivision (d) of Section 34171, which shall be
2used consistent with the affordable housing requirements in the
3Community Redevelopment Law (Part 1 (commencing with
4Section 33000)).

5(B) Loan or deferral repayments shall not be made prior to the
62013-14 fiscal year. Beginning in the 2013-14 fiscal year, the
7maximum repayment amount authorized each fiscal year for
8repayments made pursuant to this paragraph and subdivision (b)
9of Section 34191.4 combined shall be equal to one-half of the
10 increase between the amount distributed to taxing entities pursuant
11to paragraph (4) of subdivision (a) of Section 34183 in that fiscal
12year and the amount distributed to taxing entities pursuant to that
13paragraph in the 2012-13 base year. Loan or deferral repayments
14made pursuant to this paragraph shall take priority over amounts
15to be repaid pursuant to subdivision (b) of Section 34191.4.

16(f) If a development includes both low- and moderate-income
17housing that meets the definition of a housing asset under
18subdivision (e) and other types of property use, including, but not
19limited to, commercial use, governmental use, open space, and
20parks, the oversight board shall consider the overall value to the
21community as well as the benefit to taxing entities of keeping the
22entire development intact or dividing the title and control over the
23property between the housing successor and the successor agency
24or other public or private agencies. The disposition of those assets
25may be accomplished by a revenue-sharing arrangement as
26approved by the oversight board on behalf of the affected taxing
27entities.

28(g) (1) (A) Thebegin delete entity assuming the housing functions pursuant
29to this sectionend delete
begin insert housing successorend insert may designate the use of and
30commit indebtedness obligation proceeds that remain after the
31satisfaction of enforceable obligations that have been approved in
32a Recognized Obligation Payment Schedule and that are consistent
33with the indebtedness obligation covenants. The proceeds shall be
34derived from indebtedness obligations that were issued for the
35purposes of affordable housing prior to January 1, 2011, and were
36backed by the Low and Moderate Income Housing Fund.
37Enforceable obligations may be satisfied by the creation of reserves
38for the projects that are the subject of the enforceable obligation
39that are consistent with the contractual obligations for those
40projects, or by expending funds to complete the projects.

P8    1(B) Thebegin delete entity assuming the housing functions pursuant to this
2sectionend delete
begin insert housing successorend insert shall provide notice to the successor
3agency of any designations of use or commitments of funds
4specified in subparagraph (A) that it wishes to make at least 20
5days before the deadline for submission of the Recognized
6Obligation Payment Schedule to the oversight board. Commitments
7and designations shall not be valid and binding on any party until
8they are included in an approved and valid Recognized Obligation
9Payment Schedule. The review of these designations and
10commitments by the successor agency, oversight board, and
11Department of Finance shall be limited to a determination that the
12designations and commitments are consistent with bond covenants
13and that there are sufficient funds available.

14(2) Funds shall be used and committed in a manner consistent
15with the purposes of the Low and Moderate Income Housing Asset
16Fund. Notwithstanding any other law, the successor agency shall
17retain and expend the excess housing obligation proceeds at the
18discretion of thebegin delete succeeding housing entityend deletebegin insert housing successorend insert,
19provided that the successor agency ensures that the proceeds are
20expended in a manner consistent with the indebtedness obligation
21covenants and with any requirements relating to the tax status of
22those obligations. The amount expended shall not exceed the
23amount of indebtedness obligation proceeds available and such
24expenditure shall constitute the creation of excess housing proceeds
25expenditures to be paid from the excess proceeds. Excess housing
26proceeds expenditures shall be listed separately on the Recognized
27Obligation Payment Schedule submitted by the successor agency.

28(h) begin deleteSubdivisions (d) and (e) of Section 33334.3 and any other
29applicable sections of the Community Redevelopment Law shall
30apply for purposes of funding administrative and planning costs
31associated with the implementation of this section. For this purpose,
32the term “Low and Moderate Income Housing Fund” shall mean
33the “Low and Moderate Income Housing Asset Fund.” end delete
This section
34shall not be construed to provide any stream of tax increment
35financing.

36

SEC. 2.  

Section 34176.1 is added to the Health and Safety
37Code
, to read:

38

34176.1.  

Funds in the Low and Moderate Income Housing
39Asset Fund described in subdivision (d) of Section 34176 shall be
40subject to the provisions of the Community Redevelopment Law
P9    1(Part 1 (commencing with Section 33000)) relating to the Low and
2Moderate Income Housing Fund, except as follows:

3(a) Subdivision (d) of Section 33334.3 and subdivision (a) of
4Section 33334.4 shall not apply. Instead, funds received from the
5successor agency for items listed on the Recognized Obligation
6Payment Schedule shall be expended to meet the enforceable
7obligations, and the housing successor shall expend all other funds
8in the Low and Moderate Income Housing Asset Fund as follows:

9(1) For the purpose of monitoring and preserving the long-term
10affordability of units subject to affordability restrictions or
11covenants entered into by the redevelopment agency or the housing
12successor and for the purpose of administering the activities
13described in paragraphs (2) and (3), a housing successor may
14expend per fiscal year up to an amount equal to 2 percent of the
15purchase price of real property owned by the housing successor
16and of loans and grants receivable, including real property and
17loans and grants transferred to the housing successor pursuant to
18Section 34176 and real property purchased and loans and grants
19made by the housing successor. If this amount is less than one
20hundred thousand dollars ($100,000) for any given fiscal year, the
21housing successor may expend up to one hundred thousand dollars
22($100,000) in that fiscal year for these purposes.

23(2) Notwithstanding Section 33334.2, if the housing successor
24has fulfilled all obligations pursuant to Sections 33413 and 33418,
25the housing successor may expend up to two hundred fifty thousand
26dollars ($250,000) per fiscal year for homeless prevention and
27rapid rehousing services for individuals and families who are
28homeless or would be homeless but for this assistance, including
29the provision of short-term or medium-term rental assistance,
30housing relocation and stabilization services including housing
31search, mediation, or outreach to property owners, credit repair,
32security or utility deposits, utility payments, rental assistance for
33a final month at a location, moving cost assistance, and case
34management, or other appropriate activities for homelessness
35prevention and rapid rehousing of persons who have become
36homeless.

37(3) (A) The housing successor shall expend all funds remaining
38in the Low and Moderate Income Housing Asset Fund after the
39expenditures allowed pursuant to paragraphs (1) and (2) for the
40development of housing affordable to and occupied by households
P10   1earning 80 percent or less of the area median income, with at least
230 percent of these remaining funds expended for the development
3of rental housing affordable to and occupied by households earning
430 percent or less of the area median income and no more than 20
5percent of these remaining funds expended for the development
6of housing affordable to and occupied by households earning
7between 60 percent and 80 percent of the area median income.

8(B) A housing successor shall demonstrate in the annual report
9described in subdivision (f) for year 2019, and every five years
10thereafter, that the housing successor’s expenditures from January
111, 2014, through the end of the latest fiscal year covered in the
12report comply with this program. If the housing successor fails to
13comply with the extremely low-income requirement in any
14five-year report, then the housing successor shall ensure that at
15least 50 percent of these remaining funds expended in each fiscal
16year following the latest fiscal year following the report are
17expended for the development of rental housing affordable to, and
18occupied by, households earning 30 percent or less of the area
19median income until the housing successor demonstrates
20compliance with the extremely low income requirement in an
21annual report described in subdivision (f).

22(C) If the housing successor exceeds the expenditure limit for
23households earning between 60 percent and 80 percent of the area
24median income in any five-year report, the housing successor shall
25not expend any of the remaining funds for households earning
26between 60 percent and 80 percent of the area median income until
27the housing successor demonstrates compliance with this limit in
28an annual report described in subdivision (f).

29(D) For purposes of this subdivision, “development” means new
30 construction, acquisition and rehabilitation, substantial
31rehabilitation as defined in Section 33413, the acquisition of
32long-term affordability covenants on multifamily units as described
33in Section 33413, or the preservation of an assisted housing
34development that is eligible for prepayment or termination or for
35which within the expiration of rental restrictions is scheduled to
36occur within five years as those terms are defined in Section
3765863.10 of the Government Code. Units described in to this
38subparagraph may be counted towards any outstanding obligations
39pursuant to Section 33413, provided that the units meet the
P11   1requirements of that section and are counted as provided in that
2section.

3(b) Subdivision (b) of Section 33334.4 shall not apply. Instead,
4if the aggregate number of units of deed-restricted rental housing
5restricted to seniors and assisted individually or jointly by the
6housing successor, its former redevelopment agency, and its host
7jurisdiction within the previous 10 years exceeds 50 percent of the
8aggregate number of units of deed-restricted rental housing assisted
9individually or jointly by the housing successor, its former
10redevelopment agency, and its host jurisdiction within the same
11time period, then the housing successor shall not expend these
12funds to assist additional senior housing units until the housing
13successor or its host jurisdiction assists, and construction has
14commenced, a number of units available to all persons, regardless
15of age, that is equal to 50 percent of the aggregate number of units
16of deed-restricted rental housing units assisted individually or
17jointly by the housing successor, its former redevelopment agency,
18and its host jurisdiction within the time period described above.

19(c) (1) Program income a housing successor receives shall not
20be associated with a project area and, notwithstanding subdivision
21(g) of Section 33334.2, may be expended anywhere within the
22jurisdiction of the housing successor or transferred pursuant to
23paragraph (2) without a finding of benefit to a project area. For
24purposes of this paragraph, “program income” means the sources
25described in paragraphs (3), (4), and (5) of subdivision (e) of
26Section 34176 and interest earned on deposits in the account.

27(2) Two or more housing successors within a county, within a
28single metropolitan statistical area, within 15 miles of each other,
29or that are in contiguous jurisdictions may enter into an agreement
30to transfer funds among their respective Low and Moderate Income
31Housing Asset Funds for the sole purpose of developing transit
32priority projects as defined in subdivisions (a) and (b) of Section
3321155 of the Public Resources Code, permanent supportive housing
34as defined in paragraph (2) of subdivision (b) of Section 50675.14,
35housing for agricultural employees as defined in subdivision (g)
36of Section 50517.5, or special needs housing as defined in federal
37or state law or regulation if all of the following conditions are met:

38(A) Each participating housing successor has made a finding
39based on substantial evidence, after a public hearing, that the
P12   1agreement to transfer funds will not cause or exacerbate racial,
2ethnic, or economic segregation.

3(B) The development to be funded shall not be located in a
4census tract where more than 50 percent of its population is very
5low income, unless the development is within one-half mile of a
6major transit stop or high-quality transit corridor as defined in
7paragraph (3) of subdivision (b) of Section 21155 of the Public
8Resources Code.

9(C) The completed development shall not result in a reduction
10in the number of housing units or a reduction in the affordability
11of housing units on the site where the development is to be built.

12(D) A transferring housing successor shall not have any
13outstanding obligations pursuant to Section 33413.

14(E) No housing successor may transfer more than one million
15dollars ($1,000,000) per fiscal year.

16(F) The jurisdictions of the transferring and receiving housing
17successors each have an adopted housing element that the
18Department of Housing and Community Development has found
19pursuant to Section 65585 of the Government Code to be in
20substantial compliance with the requirements of Article 10.6
21(commencing with Section 65580) of Chapter 3 of Division 1 of
22Title 7 of the Government Code and have submitted to the
23Department of Housing and Community Development the annual
24progress report required by Section 65400 of the Government Code
25 within the preceding 12 months.

26(G) Transferred funds shall only assist rental units affordable
27to, and occupied by, households earning 60 percent or less of the
28area median income.

29(H) Transferred funds not encumbered within two years shall
30be transferred to the Department of Housing and Community
31Development for expenditure pursuant to the Multifamily Housing
32Program or the Joe Serna, Jr. Farmworker Housing Grant Program.

33(d) Sections 33334.10 and 33334.12 shall not apply. Instead, if
34a housing successor has an excess surplus, the housing successor
35shall encumber the excess surplus for the purposes described in
36paragraph (3) of subdivision (a) or transfer the funds pursuant to
37paragraph (2) of subdivision (c) within three fiscal years. If the
38housing successor fails to comply with this subdivision, the housing
39 successor, within 90 days of the end of the third fiscal year, shall
40transfer any excess surplus to the Department of Housing and
P13   1Community Development for expenditure pursuant to the
2Multifamily Housing Program or the Joe Serna, Jr. Farmworker
3Housing Grant Program. For purposes of this subdivision, “excess
4surplus” shall mean an unencumbered amount in the account that
5exceeds the greater of one million dollars ($1,000,000) or the
6aggregate amount deposited into the account during the housing
7successor’s preceding four fiscal years, whichever is greater.

8(e) Section 33334.16 shall not apply to interests in real property
9acquired on or after February 1, 2012. With respect to interests in
10real property acquired by the former redevelopment agency prior
11to February 1, 2012, the time periods described in Section 33334.16
12shall be deemed to have commenced on the date that the
13Department of Finance approved the property as a housing asset.

14(f) Section 33080.1 of this code and Section 12463.3 of the
15Government Code shall not apply. Instead, the housing successor
16shall conduct, and shall provide to its governing body, an
17independent financial audit of the Low and Moderate Income Asset
18Fund within six months after the end of each fiscal year, which
19may be included in the independent financial audit of the host
20jurisdiction. If the housing successor is a city or county, it shall
21also include in its report pursuant to Section 65400 of the
22Government Code and post on its Internet Web site all of the
23following information for the previous fiscal year. If the housing
24successor is not a city or county, it shall also provide to its
25governing body and post on its Internet Web site all of the
26following information for the previous fiscal year:

27(1) The amount deposited to the Low and Moderate Income
28Asset Fund, distinguishing any amounts deposited for items listed
29on the Recognized Obligation Payment Schedule from other
30amounts deposited.

31(2) A statement of the balance in the fund as of the close of the
32fiscal year, distinguishing any amounts held for items listed on the
33Recognized Obligation Payment Schedule from other amounts.

34(3) A description of expenditures from the fund by category,
35including, but not limited to, expenditures (A) for monitoring and
36preserving the long-term affordability of units subject to
37affordability restrictions or covenants entered into by the
38redevelopment agency or the housing successor and administering
39the activities described in paragraphs (2) and (3) of subdivision
40(a), (C) for homeless prevention and rapid rehousing services for
P14   1the development of housing described in paragraph (2) of
2subdivision (a), (B) and for the development of housing pursuant
3to paragraph (3) of subdivision (a).

4(4) As described in paragraph (1) of subdivision (a), the value
5of real property owned by the housing successor, the value of loans
6and grants receivable, and the sum of these two values.

7(5) A description of any transfers made pursuant to paragraph
8(2) of subdivision (c) in the previous fiscal year and, if still
9unencumbered, in earlier fiscal years and a description of and status
10update on any project for which transferred funds have been or
11will be expended if that project has not yet been placed in service.

12(6) A description of any project for which the housing successor
13receives or holds property tax revenue pursuant to the Recognized
14Obligation Payment Schedule and the status of that project.

15(7) For interests in real property acquired by the former
16redevelopment agency prior to February 1, 2012, a status update
17on compliance with Section 33334.16. For interests in real property
18acquired on or after February 1, 2012, a status update on the
19project.

20(8) A description of any outstanding obligations pursuant to
21Section 33413 that remained to transfer to the housing successor
22on February 1, 2012, of the housing successor’s progress in meeting
23those obligations, and of the housing successor’s plans to meet
24unmet obligations. In addition, the housing successor shall include
25in the report posted on its Internet Web site the implementation
26plans of the former redevelopment agency.

27(9) The information required by subparagraph (b) of paragraph
28(3) of subdivision (a).

29(10) The percentage of units of deed-restricted rental housing
30restricted to seniors and assisted individually or jointly by the
31housing successor, its former redevelopment agency, and its host
32jurisdiction within the previous 10 years in relation to the aggregate
33number of units of deed-restricted rental housing assisted
34individually or jointly by the housing successor, its former
35redevelopment agency, and its host jurisdiction within the same
36time period.

P15   1(11) The amount of any excess surplus, the amount of time that
2the successor agency has had excess surplus, and the housing
3successor’s plan for eliminating the excess surplus.



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