City of Irwindale as Successor Agency to the
Irwindale Community Redevelopment Agency
Report Total (1 checks): 3,900.00
Check Date Check Amount
102880 USBANK03 US Bank Trust N.A. 09/23/2024 3,900.00
Accounts Payable
Checks by Date - Summary by Check Number
Check No Vendor No Vendor Name
IRWINDALE CITY COUNCIL CHAMBERS MARCH 13, 2024
5050 N. IRWINDALE AVENUE WEDNESDAY
IRWINDALE, CALIFORNIA 91706 8:44 P.M.
The Irwindale HOUSING AUTHORITY met in regular session at the above time and place.
ROLL CALL: Present: Board Members Mark A. Breceda, H. Manuel Ortiz, Vice Chair Larry G. Burrola; Chair Albert F. Ambriz
Absent: Board Member Manuel R. Garcia
Also present: Julian A. Miranda, Executive Director; Adrian Guerra, General Counsel; Theresa Olivares, Assistant Executive Director; Christopher Hofford, Chief of Police; Kambiz Borhani, Director of Finance / City Treasurer; Marilyn Simpson, Community Development Director; Elizabeth Rodriguez, Public Services Director; Eddie Chan, Director of Engineering / Building Official; Mary Hull, Human Resources Manager, and Laura Nieto, Chief Assistant Authority Secretary
AB 2449 DISCLOSURES None.
CONSENT CALENDAR
MOTION A motion was made by Vice Chair Burrola, seconded by Board Member Ortiz, to approve the Consent Calendar. The motion was unanimously approved; Board Member Garcia absent and Board Member Breceda abstaining on Item No. 33B.
ITEM NO. 33A MINUTES OF THE REGULAR MEETING HELD FEBRUARY 28, MINUTES OF THE 2024
REGULAR MEETING
HELD FEBRUARY 28, The minutes of the regular meeting held February 28, 2024, were 2024 approved.
ITEM NO. 33B APPROVING AND AUTHORIZING USE OF THE 10-ACRE SITE, APPROVING AND ASSESSOR’S PARCEL NUMBER 8417-34-912, FOR THE CITY OF AUTHORIZING USE OF IRWINDALE’S JULY 4, 2024, FIREWORKS DISPLAY THE 10-ACRE SITE, SPECTACULAR EVENT
ASSESSOR’S PARCEL
NUMBER 8417-34-912,
FOR THE CITY OF
IRWINDALE’S
JULY 4, 2024,
FIREWORKS DISPLAY
SPECTACULAR EVENT
RESOLUTION NO. Resolution No. HA 2024-02-140, entitled:
HA 2024-02-140
ADOPTED “A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
IRWINDALE HOUSING AUTHORITY AUTHORIZING AND
HOUSING AUTHORITY MINUTES MARCH 13, 2024
REGULAR MEETING PAGE 2
APPROVING THE USE OF THE 10-ACRE SITE ON ALLEN DRIVE,
ASSESSOR’S PARCEL NUMBER 8417-34-912, FOR THE CITY OF
IRWINDALE’S JULY 4, 2024, FIREWORKS DISPLAY
SPECTACULAR EVENT,” was adopted; Board Member Breceda
abstaining.
END OF CONSENT CALENDAR
SPONTANEOUS
COMMUNICATIONS None.
ADJOURNMENT There being no further business to conduct, the meeting was adjourned at 8:45 p.m.
_________________________
Laura M. Nieto, MMC
Chief Assistant Authority Secretary
IRWINDALE CITY COUNCIL CHAMBERS SEPTEMBER 25, 2024
5050 N. IRWINDALE AVENUE WEDNESDAY
IRWINDALE, CALIFORNIA 91706 7:39 P.M.
The Irwindale HOUSING AUTHORITY met in regular session at the above time and place.
ROLL CALL: Present: Board Members Mark A. Breceda, Manuel R. Garcia, Vice Chair Larry G. Burrola; Chair Albert F. Ambriz
Absent: Councilmember H. Manuel Ortiz
Also present: Julian A. Miranda, Executive Director; Adrian Guerra, General Counsel; Theresa Olivares, Assistant Executive Director; Christopher Hofford, Chief of Police; Kambiz Borhani, Director of Finance / City Treasurer; Marilyn Simpson, Community Development Director; Elizabeth Rodriguez, Public Services Director; Eddie Chan, Director of Engineering / Building Official; Mary Hull, Human Resources Manager, and Laura Nieto, Chief Deputy City Clerk AB 2449 DISCLOSURES None.
CONSENT CALENDAR
CARMEN ROMAN Carmen Roman requested that Items 33B and 33C be removed for separate consideration.
GENERAL COUNSEL General Counsel Guerra suggested that Board Member Breceda GUERRA recuse himself from Items 33B and 33C.
MOTION A motion was made by Board Member Breceda, seconded by Chair Ambriz, to approve the Consent Calendar, except for Item Nos. 33B and 33C, which were removed for separate consideration. The motion was unanimously approved, Board Member Ortiz absent.
ITEM NO. 33A MINUTES OF THE REGULAR MEETING HELD SEPTEMBER 11, MINUTES OF THE 2024
REGULAR MEETING
SEPTEMBER 11, 2024 The minutes of the regular meeting held September 11, 2024, were approved as presented.
END OF CONSENT CALENDAR
ITEM NO. 33B ACQUISITION OF LAS CASITAS FIRST AMENDMENT AND
ACQUISITION OF HOLDBACK ADDENDUM
LAS CASITAS FIRST
AMENDMENT AND
HOLDBACK ADDENDUM
BOARD MEMBER Board Member Breceda declared a potential conflict of interest with BRECEDA Item Nos. 33B and 33C and exited the Council Chambers at 7:41 p.m.
HOUSING AUTHORITY MINUTES SEPTEMBER 25, 2024
REGULAR MEETING PAGE 2
HOUSING COORD. Housing Coordinator Lopez presented the staff report.
LOPEZ
DENA ZEPEDA Dena Zepeda requested that the carpets at all Las Casitas apartments be replaced, to which Coordinator Lopez stated that the acquisition includes a rehabilitation component and that, once the acquisition is secured, the apartment units will be rehabilitated.
MOTION A motion was made by Board Member Garcia, seconded by Vice Chair Burrola, to authorize the Las Casitas First Amendment and Holdback Addendum. The motion was unanimously approved; Board Members Breceda and Ortiz absent.
ITEM NO. 39C LAS CASITAS SENIOR APARTMENT PROPERTY MANAGEMENT
LAS CASITAS AGREEMENT
SENIOR APARTMENT
PROPERTY MGMT.
AGREEMENT
COORDINATOR Coordinator Lopez presented the staff report.
LOPEZ
DENA ZEPEDA Dena Zepeda stated that many have complained about Northridge property management and that the company has neglected necessary repairs.
PAT GONZALES Pat Gonzales stated that she lives at the apartment complex and noted that her apartment has new carpeting. She indicated that she does not have any issues with the property management other than apartment residents having unauthorized people living with them and that they failed to clean her apartment before she moved in.
CARMEN ROMAN Carmen Roman stated that the gates at Las Casitas are left open and that it is good that the Housing Authority Board is becoming involved.
COORDINATOR Coordinator Lopez stated that miscommunication would likely lead to LOPEZ issues, though he noted that the new on-site property manager Andrew is doing a good job and that residents are generally happy living at the apartment complex.
MOTION A motion was made by Councilmember Garcia, seconded by Vice Chair Burrola, to authorize the Property Management Agreement, subject to final approval as to form by the City Attorney’s Office. The motion was unanimously approved; Board Members Breceda and Ortiz absent.
SPONTANEOUS
COMMUNICATIONS There were no speakers.
HOUSING AUTHORITY MINUTES SEPTEMBER 25, 2024
REGULAR MEETING PAGE 3
BOARD MEMBER Board Member Breceda returned to the Council Chambers at 7:53 BRECEDA p.m.
ADJOURNMENT There being no further business to conduct, the meeting was adjourned at 7:53 p.m.
_________________________
Laura M. Nieto, MMC
Chief Assistant Authority Secretary
Item #33.B.
Date: October 9, 2024
To: Honorable Chair and Members of the Housing Authority Board From: Julian A. Miranda, Executive Director
Issue: Irwindale Housing Authority Annual Report for Fiscal Year (FY) 2023‐2024 Executive Director's Recommendation:
Receive and file the FY 2023-2024 Irwindale Housing Authority Annual Report and direct that such report be filed with the City of Irwindale City Clerk's office and the Department of Housing and Community Development.
Administrative Action:
Submitted / Prepared by:
Fernando Lopez, Housing Coordinator
Approved by:
Julian A. Miranda, Executive Director
Background and Analysis:
FY 2023‐2024 Irwindale Housing Authority Annual Report
California Health and Safety Code ("HSC") Section 34328 states that at least once each year, "an authority shall file with the clerk of the respective city or county and with the Department of Housing and Community Development a report of its activities for the preceding year." HSC Section 34328.1 states that such report ("Annual Report") be filed with the Department of Housing and Community Development ("HCD") on October 1 of each year.
The Irwindale Housing Authority ("Authority") retained the services of RSG to prepare the Authority's Annual Report for Fiscal Year 2023‐2024, which was to be submitted to HCD by October 1, 2024.
Additionally, a copy of the Annual Report must be filed with the City of Irwindale ("City") City Clerk. The Annual Report for the Authority (Attachment 1) covers all the activities that have occurred during FY 2023‐2024, including housing unit compliance with affordability requirements, activities concerning
existing debt obligations, land transactions and development.
The Annual Report must specifically document any notice of terminations issued to domestic violence victims or terminations of Section 8 vouchers held by domestic violence victims, whether the termination notices resulted in the victim vacating the premises, and any steps the Authority may have taken to assist the victim(s). The property manager for the Irwindale Las Casitas Authority‐owned property reports that no notices of terminations were issued nor were Section 8 voucher victims of domestic violence terminated.
The Annual Report must include all debt obligations issued during FY 2023‐2024. The Authority did not issue any bonds or enter into any finance agreements during the fiscal year. In FY 2023‐2024.
All land transactions and development activities that occurred during the year must be listed, such as property purchases, rehabilitation, leases, land sales, operational changes, and establishment of special trust funds. The Authority did not purchase, rehabilitate, lease, sell, make any operational changes, or establish special trust funds in FY 2023‐2024.
At least 20% of all units in housing projects assisted by the Authority must be available to lower income persons. The affordability levels of the assets overseen by the Authority are in compliance.
Fiscal Impact:
An independent audit of the Irwindale Housing Successor is conducted annually and will be presented upon completion of the Irwindale Housing Successor Financial Statement Report.
Attachments:
1. FY 2023-24 Irwindale Housing Authority Annual Report
Report Date: October 2, 2024
ANNUAL REPORT
IRWINDALE
HOUSING AUTHORITY
F iscal Year 20 2 3 - 2 4
2 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
SUMMARY
This is the Annual Report for the Irwindale Housing Authority (“Authority”) required by California Health and Safety Code (“HSC”) Section 34328. It describes the Authority’s activities during the 2023-24 fiscal year (“FY”), including housing unit compliance with affordability requirements, activities concerning existing debt obligations, as well as land transactions and development.
An annual report must be filed with the City Clerk and sent to the California Department of Housing and Community Development (“HCD”) by October 1 annually.
LEGAL AUTHORITY
Housing Authorities are distinct, autonomous, legal entities that derive their powers from State statute. It is the intent of the State legislature that housing authorities function as local entities with the primary responsibility of providing housing for very low- and low-income households. The HSC, beginning with Section 34200, provides the framework for a local housing authority through a resolution of the local governing body. In the case of the City of Irwindale (“City”), the City Council of the City of Irwindale (“City Council”) resolved that the Authority should exercise its powers. The resolution adopted by the local governing body must be accompanied by a finding that either of the following is true:
1) Unsanitary or unsafe housing exists in the city, or
2) There is a shortage of safe or sanitary housing available to persons of low income.
On August 27, 1987, the City Council adopted Resolution No. 87-15-1117, confirming that the two above findings were met to establish a housing authority in accordance with the California Housing Authorities Law (HSC Section 34200, et. seq.).
ORGANIZATION OF THE AUTHORITY
The City Council members serve as the Board of Commissioners of the Authority (“Housing Authority Board”), currently: Larry G. Burrola, Albert F. Ambriz, Mark A. Breceda, Manuel R.
Garcia, and H. Manuel Ortiz. Julian A. Miranda serves as the Executive Director of the Authority.
The Authority conducts its regular meetings on the second and fourth Wednesday of each month at 6:30 p.m. at the Irwindale City Hall Council Chamber, located at 5050 North Irwindale Avenue, Irwindale, California, or at such other place that the Authority designates by resolution.
OBJECTIVES OF THE HOUSING AUTHORITY
For many Housing Authorities, the primary role is to interact with the U.S. Department of Housing and Urban Development (“HUD”) on behalf of their communities. Authorities can own and operate housing developments, which alleviates the need to find prospective
3 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
owners or operators for the units created. Additionally, the Authority can acquire and assemble land for housing developments without the need to document blighting conditions.
Per the resolution creating the Authority in 1987, the Authority’s objective is “to provide for suitable, safe and sanitary housing opportunities for Irwindale residents.” The housing assets administered by the Authority include those transferred from the former Irwindale Community Redevelopment Agency (“ICRA”), including beneficial interests in loans and interests under affordability covenants. The assets formerly held by the ICRA and transferred to the Authority are described in more detail in this report.
LEGISLATIVE ACTIVITY
All redevelopment agencies in the state were dissolved on February 1, 2012, as a result of Assembly Bill (“AB”) x1 26. This dramatic change resulted in the complete elimination of local property tax dollars earmarked for affordable housing on an ongoing basis; no substitute funding source was or has since been provided. Thus, housing authorities have been left in a challenging position – the need for them is greater than ever, but a key funding source has been eliminated.
Under ABx1 26, the assets of a former redevelopment agency are divided into two categories.
Non-housing assets were transferred to newly formed successor agencies for disposition, and housing assets were transferred to selected housing successor entities. Pursuant to Resolution No. 2012-04, on January 20, 2012, the City elected to designate the Authority as the City’s housing successor as allowed by law. ABx1 26, as amended by AB 1484 and Senate Bill (“SB”) 107 (together, the “Dissolution Act”) indicate that the transfer includes “all rights, powers, assets, liabilities, duties, and obligations associated with the housing activities of the agency, excluding any amounts in the Low and Moderate Income Housing Fund.” Thus, the Successor Agency to the former ICRA (“Successor Agency”) effectuated the transfer of several assets held by ICRA to the Authority, pursuant to the Dissolution Act. The asset transfers were approved by the Oversight Board to the Successor Agency (“OB”) on May 16, 2013, by Resolution No. OB 2013-03-009, pursuant to HSC Sections 34177 and 34181.
The asset transfers were subject to review and approval by the California Department of Finance (“DOF”), pursuant to HSC Section 34176. As part of the review process, the Authority submitted a Housing Asset Transfer Form to the DOF on August 1, 2012. The DOF issued a letter on September 5, 2012, stating that it did not object to any of the transfers. A copy of Resolution No. OB 2013-03-009 is provided as Appendix 1. A copy of the Housing Asset Transfer Form approved by the DOF is provided as Appendix 2.
Additionally, the State legislature adopted SB 341 on October 13, 2013, to clarify the functions of successor housing entities. SB 341 and subsequent bills that clarified and
4 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
amended the language in SB 341 are codified in HSC Section 34176.1 and require successor housing entities to prepare an annual report documenting compliance with certain requirements (“Housing Successor Compliance Report” or “SB 341 Report”). Authority staff is in the process of auditing its financials and other information and will prepare its FY 2023- 24 Housing Successor Compliance Report under separate cover for submission to HCD by the end of 2024. More information is contained in Appendix 3.
CONTENTS OF THE AUTHORITY’S ANNUAL REPORT
State Law establishes three main components to an annual report from a housing authority.
Accordingly, this Annual Report has been developed to:
• Provide a complete report of activities during FY 2023-24, including any bond issuances, loans, or finance agreements into which the Authority entered; • Show compliance with requirements of HSC Section 34312.3, such as the minimum amount of housing units affordable to lower income in projects assisted by the Authority with bonds, and document established base rents and/or maximum rental payments for lower income households; and
• Document any termination of tenancies or Housing Choice Voucher Program (formerly Section 8) vouchers of domestic violence victims as required by HSC Section 34328.1.
In addition, per HSC Section 34328.1, an Authority’s filing of their annual report may include “recommendations for needed legislation to carry on properly a program of housing and community development in this state.” Recommendations are included at the end of this report.
HOUSING AUTHORITY DEBT OBLIGATIONS
Pursuant to HSC Sections 34328 and 34328.1, the Authority must provide a complete report of its activities during the prior fiscal year, which includes bonds, financing agreements, and loans for multi-family rental housing projects.
Bonds
The Authority did not issue any bonds during FY 2023-24.
Financing Agreements
The Authority did not enter into any financing agreements during FY 2023-24.
5 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
Loans
The Authority did not enter into any loan agreements during FY 2023-24. Note that, when the Authority became the housing successor to the former ICRA, 111 loans issued to singlefamily homeowners by the former ICRA were transferred to the Authority. The 111 loans included 42 home subsidy loans and 69 home improvement loans. The loan transfers were approved by the DOF as part of the Housing Asset Transfer Form and are listed in Exhibit D of Appendix 2. As of August 1, 2012, when the Housing Asset List was submitted to the DOF, the outstanding loan balance was $13,172,034.90. Of the 111 loans, the latest repayment date is November 18, 2055. As of June 30, 2024, 17 loans have been paid off or forgiven since they were transferred in 2012, leaving 94 outstanding.
Any future financing for the acquisition, construction, rehabilitation, or development of housing through the issuance of bonds, construction loans, mortgage loans, and/or financing agreements will be documented and provided in future Annual Reports.
LAND TRANSACTIONS AND DEVELOPMENT
HSC Section 34312.3 requires the Annual Report to include a discussion of all prior year activities of the Authority related to the development or transaction of land for the purposes of increasing the supply of affordable housing for low- and moderate-income households.
Specific activities consist of the development, rehabilitation, or financing of housing projects assisted by the Authority, conveyance of surplus lands to a developer, or the establishment of a special trust fund or account to fund housing activities.
6 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
IMD Enterprises, LLC “Mayans Project”
Since 2013, the Authority has been implementing the Disposition and Development Agreement (“DDA”) with IMD Enterprises, LLC for the Mayans Project, an affordable housing project. The original DDA for the project was entered into by and between the Authority and IMD Enterprises on December 18, 2013, for the rehabilitation of 2 single-family homes and the construction of 16 new single-family homes. The first addendum to the DDA, dated October 14, 2015 (“First DDA Addendum”), added three single-family homes to the Mayans Project, which includes one newly constructed home and two rehabilitated homes. The second addendum to the DDA, dated April 11, 2018 (“Second DDA Addendum”), added one parcel to the project for the construction and rehabilitation of two additional homes. The third addendum to the DDA, dated July 11, 2018 (“Third DDA Addendum”), documented the approval of two change orders necessitated due to unforeseen circumstances. The fourth addendum to the DDA, dated September 12, 2018 (“Fourth DDA Addendum”), added three properties to the project for the construction of 11 new homes.
Pursuant to the DDA and the addendums, the Authority has sold several properties to IMD Enterprises, and IMD Enterprises has been rehabilitating and constructing units to be sold to extremely low- to moderate-income households. The Authority provides loans to the homebuyers with covenants restricting affordability at the properties for 45 years. As of the end of the FY 2023-24, the Mayans Project is complete, with 34 homes constructed or rehabilitated and subsequently sold to qualifying households.
Other Projects
HSC Sections 33334.16 and 34176.1(e) require housing successor agencies to initiate activities to develop affordable housing on undeveloped property transferred from the former redevelopment agency within five years from the date that the DOF approved the transfer of the housing assets. Housing successors that are out of compliance with this requirement must sell the undeveloped properties and deposit the sales proceeds in the housing successor’s Low and Moderate Income Housing Asset Fund (“LMIHAF”) to fund other affordable housing activities. The HSC allows for one five-year extension of the original fiveyear deadline.
In the Authority’s case, the original five-year deadline was September 5, 2017. As of that date, the Authority owned three undeveloped properties that were transferred from the former redevelopment agency, all of which were proposed to be sold to Panattoni Development Company, Inc. (“Panattoni”). In August 2013, the Authority entered into a DDA with Panattoni (which was amended in June 2015 and again in May 2018) with the intent of selling the three Authority-owned properties (16203, 16223, and 16233 Arrow Highway) to Panattoni.
Because the Arrow Highway properties were subject to a DDA between the Authority and Panattoni as of September 5, 2017, the Authority was in compliance with the five-year deadline. Nonetheless, out of an abundance of caution, the Housing Authority Board adopted a resolution in December 2017 that extended the deadline for five years to September 5,
7 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
2022. The Authority completed the sale of the Arrow Highway properties to Panattoni on April 3, 2020 for $4,150,000. The sales proceeds were designated for affordable housing. Thus, the Authority complied with the property disposition deadline.
In FY 2023-24, the Authority started the process of purchasing two assets. The first asset is the leasehold interest in the Las Casitas Senior Apartments (“Las Casitas”) located at 5164 Ayon Avenue. The property includes 25 affordable units affordable to extremely low-, very low-, low-, and moderate-income senior households and 1 manager unit. The 32,760-squarefoot property features landscaping, one elevator, and a clubhouse that includes a TV room, dining table, kitchen, laundry room, and an outdoor covered patio area with a barbecue. The Authority owns the land and entered into a Lease Agreement in May 1995 with the Northridge Group to develop and operate Las Casitas. The Housing Authority is now in the process of acquiring the leasehold interest in Las Casitas from the Northridge Group. The Housing Authority intends to rehabilitate the property after purchase. The Authority’s FY 2023-24 expenses related to the purchase include the acquisition price of $900,000, appraisal fees totaling $5,900, property inspection fees totaling $3,900, and escrow fees totaling $1,720.
Additionally, the Authority started the process of purchasing a commercial property located at 16154-16158 Arrow Highway. The property was previously utilized as a construction contractor yard business for many years. The property is currently vacant with a deteriorated structure and miscellaneous discarded items from the prior business. Due to its location on a major thoroughfare and its close proximity to the City’s Civic Center, the property could be better utilized for the development of affordable housing. City staff received authorization from the Housing Authority Board to begin negotiations and execute a Purchase and Sale Agreement for the acquisition of the property. The Authority’s FY 2023-24 expenses related to the purchase included $50,000 of escrow fees and $2,100 for a Phase I environmental assessment.
The Authority did not sell any property in FY 2023-24. Any future developments or land transactions will be documented and reported in subsequent Annual Reports.
HOUSING UNIT COMPLIANCE
As set forth by HSC Sections 34328 and 34328.1, housing authorities are required to:
• Show compliance with requirements of HSC Section 34312.3, such as the minimum amount of housing units affordable to lower income persons in projects assisted by the Authority, and established base rents and/or maximum rental payments for lower income households; and
• Document any termination of tenancies or Housing Choice Vouchers of victims of domestic violence as required by HSC Section 34328.1.
8 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
The following subsections provide a summary of the Authority’s progress toward the requirements listed above.
Housing Affordability Requirement
Assets transferred from the ICRA to the Authority are subject to both California Community Redevelopment Law (“CRL”), codified in HSC Section 33000 et. seq., and Housing Authorities Law (“HAL”), codified in HSC Section 34200 et. seq. The CRL and HAL have different requirements relating to housing production, expenditure limitations, adjustments for family size, affordability restriction durations, and other regulatory requirements.
Pursuant to the CRL, at least 15% of all newly constructed or substantially rehabilitated units must be affordable to very low- to moderate-income households (HSC Section 33413).
Pursuant to the HAL, at least 20% of the units in housing projects assisted by the Authority, or 15% in targeted areas, must be affordable to persons of low income (HSC Section 34312.3(c)). If housing projects are financed by bonds issued by the Authority, at least 10% of the units must be available to persons of very low income.
As summarized in Table 1, the affordability levels of the 25 Las Casitas units (pursuant to the related DDA) and the 123 active restrictive covenants comply with both the CRL and the HAL. Although the HAL discourages housing authorities from assisting moderate-income households, Authority properties with moderate-income units fulfill the requirements of the CRL. Any future development will satisfy both CRL and HAL requirements as necessary.
The Authority assumed one multi-family property assisted by the former ICRA, the Las Casitas Senior Apartment Complex. As stated above in the “Land Transactions and Development” section, the property is located at 5164 Ayon Avenue and includes 25 affordable units and 1 manager unit. In addition, the Authority assumed 104 restrictive covenants on single-family homes from the former ICRA. The covenants are listed in Exhibit Affordability Levels
Irwindale Housing Authority
# % # % # % # % # %
Las Casitas Senior Apartment Complex 9 36% 6 24% 5 20% 5 20% 25 100% Restrictive Covenants 4 3% 32 26% 46 37% 41 33% 123 100% Total 13 9% 38 26% 51 34% 46 31% 148 100%
Total Moderate Income or Below 100%
Total Low Income or Below 69%
Total Very Low Income or Below 34%
Table 1
Units by Income Level
Asset Extremely Low Very Low Low Moderate Total
9 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
A of Appendix 2. Since the covenants were transferred in 2012, 16 have expired, resulting in 88 remaining.
Since FY 2015-16, the Authority has established 35 new covenants. Of the 35 covenants, 34 are related to loans issued to buyers of Mayans Project units. The Authority established 3 covenants in FY 2015-16, 1 covenant in FY 2016-17, 14 covenants in FY 2017-18, 3 covenants in FY 2018-19, 6 covenants in FY 2019-20, 1 covenant in FY 2020-21, and 7 in FY 2021-22. The Authority did not establish any new covenants in FY 2022-23 or 2023-24.
Base & Maximum Rents
HSC Section 34312 states that a housing authority may “prepare, carry out, acquire, lease, and operate housing projects for persons of low income.” As part of this authority, HSC Section 34312.3 establishes a set of guidelines to determine base and maximum rents that can be charged for units reserved for lower income households. According to HSC Section 34312.3, rental payments for very low- and low-income households shall not exceed the amounts established by HCD. Appendix 4 details the maximum rental payments that the Authority can charge for lower income households.
Table 2 below shows the rents charged at Las Casitas, the sole affordable housing rental project overseen by the Authority.
Termination of Domestic Violence Tenancies and Housing Choice Vouchers State law requires that a housing authority annually disclose data related to domestic violence incidents in units owned or operated by the housing authority. Specifically, the data must include:
• Data on termination of tenancies and/or Housing Choice Vouchers of victims of domestic violence in housing authority units; and
Rental Rates Table 2
Irwindale Housing Authority
Property Income Level of
Household Unit Size # of Units1 Co. Max. Rent 2 Tenant-Paid Rent Range 3 Las Casitas Extremely Low 1-bed 18 $589 $221-$546
Very Low 1-bed 3 $982 $569-$785
Low 1-bed 1 $2,220 $1,093
Moderate 1-bed 0 $2,358 N/A
1 The units described above exclude one on-site manager unit, two vacant units, and one market-rate unit. 2 County-wide maximum allowable rent before deducting the utility allowance pursuant to HSC Section 50053. 3 Aggregated by rental range to protect privacy. Monthly rent includes the utility allowance and does not include Authority subsidies.
The data in the above table is current as of December 2023 (certified in June 2024).
10 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
• Summary of steps taken by the housing authority to address any termination of tenancies and/or Housing Choice Vouchers of victims of domestic violence.
In FY 2023-24, the Authority did not terminate any tenants who are victims of domestic violence. The Housing Authority does not currently administer Housing Choice Vouchers, so the requirements regarding Housing Choice Vouchers are not applicable.
11 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
FINANCIAL STATEMENT/BUDGET
Table 3 presents a summary of the Authority’s FY 2023-24 projected versus actual revenues and expenditures by category. Actual revenues were $282,497 more than expected, and expenditures were $665,047 more than budgeted.
Statement of Revenue & Expenditures1 Table 3
Projected
2023-24
Actual
2023-24
REVENUE
Interest Income $ 25,000.00 $ 240,435.07
Investmt Unrealized Loss / (Gain) - 65,021.96
Other & Miscellaneous Income - 2,040.00
Total Revenues $ 25,000.00 $ 307,497.03
EXPENSES
Contract Services:
Agency/Authority Meeting Stipend Reimbursement $ 7,330.00 $ 5,326.14 Mileage Reimbursement 100.00 -
Memberships & Subscriptions 10,650.00 10,647.47
Public Notices 1,000.00 305.19
Housing/Rental Subsidy 76,500.00 51,707.34
Operating Supplies 1,600.00 1,052.66
Postage 1,500.00 14.49
Fuel 600.00 -
Contractual Svcs-Single Fam Hg 111,613.50 51,094.02
Legal Services 250,000.00 62,177.50
Audit Services 10,753.00 5,373.00
Admin/Personnel Reimbursement 244,700.00 236,398.74
Property Taxes/Parcel Levy 10,000.00 9,576.74
Total Expenses $ 726,346.50 $ 433,673.29
Escrow Fees $ - $ 50,000.00
Acquisition Costs - 907,720.00
TOTAL $ 726,346.50 $ 1,391,393.29
Source: City of Irwindale Finance Department
1 Adjustments may be made as year-end accounting is finalized.
12 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
LEGISLATIVE RECOMMENDATION
As discussed earlier in this report, the Legislature abolished all redevelopment agencies in the state, effective February 1, 2012. The elimination of redevelopment agencies in the manner prescribed by the Legislature means that there is no longer a regular source of local property tax dollars earmarked for affordable housing on an ongoing basis; in addition, no substitute funding source has been provided. It is recommended that the Legislature immediately relieve cities from requirements associated with the production of affordable housing given the expression of legislative priorities that has removed funding for affordable housing from local government.
Additionally, it is recommended that the Legislature provide a regular funding source for the monitoring, implementation and administration of affordable housing at the city level.
Historically, the implementation of affordable housing as well as monitoring is a laborintensive matter; simply put, such operations do not pay for themselves. In addition to removing housing set-aside dollars from the equation, the elimination of redevelopment agencies obviously has had severe impacts upon cities, which impacts promise to be felt for decades. Accordingly, the Legislature should refrain from adding requirements for additional reporting where this would amount to an unfunded mandate.
If the Legislature intends that cities maintain existing affordable housing resources, we recommend that the Legislature enact a measure which would treat ongoing administration and maintenance of existing affordable housing units and additional affordable housing units as an enforceable obligation for purposes of ABx1 26 and AB 1484.
13 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
APPENDIX 1: OVERSIGHT BOARD RESOLUTION NO. 2013-03-009
The Oversight Board to the Successor Agency approved Resolution No. OB 2013-03-009 on May 16, 2013, which effectuated the transfer of several assets from the former ICRA to the Authority, pursuant to HSC Sections 34177 and 34181. The resolution is attached on the following pages.
OVERSIGHT BOARD RESOLUTION NO. OB 2013-03-009
A RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO
THE IRWINDALE COMMUNITY REDEVELOPMENT AGENCY APPROVING THE
HOUSING ASSET TRANSFER LIST PREPARED AND SUBMITTED TO, AND
APPROVED BY, THE CALIFORNIA DEPARTMENT OF FINANCE PURSUANT TO CALIFORNIA HEALTH AND SAFETY CODE SECTION 34176(a)(2), INCLUDING THE
TRANSFER OF INDIVIDUAL HOUSING ASSETS CONTAINED THEREIN BY THE SUCCESSOR AGENCY TO THE IRWINDALE HOUSING AUTHORITY"
WHEREAS, pursuant to Assembly Bill 26 of the First Extraordinary Session of the 2011- 2012 Legislative Session ("ABX1 26") (Chapter 5, Statutes of 2011), the Irwindale Community Redevelopment Agency was effectively dissolved as of February 1, 2012; and WHEREAS, pursuant to ABX1 26, the City Council of the City of Irwindale adopted Resolution No. 2012-09-2548 electing not to retain the housing functions and assets of the former Irwindale Community Redevelopment Agency ("ICRA") and instead selecting the Irwindale Housing Authority ("Housing Authority") to perform the housing functions of the ICRA, and transferring all rights, powers, assets, liabilities, duties, and obligations associated with the housing activities of the ICRA to the Housing Authority; and WHEREAS, pursuant to ABX1 26, an oversight board must be formed for each jurisdiction where a redevelopment agency previously existed to oversee the dissolution activities managed and administered by the Successor Agency to the ICRA ("Successor Agency"); and
WHEREAS, on June 21, 2012, the Oversight Board to the Successor Agency ("Oversight Board") received and filed a report from the Successor Agency on the transfer of housing assets by the Successor Agency to the Housing Authority, including specified real property assets; and WHEREAS, Assembly Bill 1484 ("AB 1484") (Chapter 26, Statutes of 2012) was enacted on June 27, 2012 and made substantial changes to the redevelopment wind-down process under ABX1 26; and
WHEREAS, AB 1484 amended Section 34176 of the California Health and Safety Code ("HSC") and HSC Section 34176(a)(2) established new definitions for what qualifies as a "housing asset" and required the Successor Agency to submit to the California Department of Finance ("DOF") a housing asset transfer list ("HAT") by August 1, 2012 listing all housing assets that contains an explanation of how the assets meet the criteria specified in subdivision (e)," including "assets transferred between February 1, 2012, and the date upon which the list is created" (Exhibit "A"); and
Oversight Board Resolution No. 2013-03-009 Page 1
WHEREAS, after a comprehensive review of the HAT, DOF issued a letter on September 5, 2012 approving the HAT and the individually listed housing without exception (Exhibit "B"); and
WHEREAS, while ABX1 26 and AB 1484 did not expressly require the HAT to be approved by the Oversight Board, out of an abundance of caution related to potential issues with title, the Oversight Board desires to establish a clear record of approval of the HAT.
NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE IRWINDALE COMMUNITY REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:
Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference.
Section 2. Approval of Housing Asset Transfer List and Transfer of Individual Housing Assets. The Oversight Board hereby approves the Housing Asset Transfer list attached hereto as Exhibit "A" and the transfer of the individual housing assets contained therein by the Successor Agency to the Low and Moderate Income Housing Asset Fund of the Housing Authority.
PASSED AND ADOPTED at a special meeting of the Oversight Board of the Successor Agency to the Irwindale Community Redevelopment Agency, on the 16th day of May, 2013, by the following vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
ATTEST:
Boardmembers:
Boardmembers:
Boardmembers:
Boardmembers:
Frick, Hsi, Martinez, Vice Chair Diaz
None
Corpis
Laura Nieto, Se retry
Oversight Board Resolution No. 2013-03-009 Page 2
14 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2021-22 Annual Report
APPENDIX 2: HOUSING ASSET LIST
The Housing Asset List, attached on the following pages, shows assets transferred from the former ICRA to the Authority. All transfers were approved by the DOF on September 5, 2012, pursuant to HSC Section 34176.
DEPARTMENT OF FINANCE
HOUSING ASSETS LIST
ASSEMBLY BILL X1 26 AND ASSEMBLY BILL 1484
(Health and Safety Code Section 34176)
Former Redevelopment Agency: Irwindale Community Redevelopment Agency Successor Agency to the Former Redevelopment Agency: City of lrwndale as Successor Agency to the Irwindale Community Redevelopment Agency Entity Assuming the Housing Functions
of the former Redevelopment Agency: Irwindale Housing Authority Entity Assuming the Housing Functions
Contact Name: Theresa Olivares
Entity Assuming the Housing Functions
Contact Name: Eva Contreras
Title Housing Coordinator Phone (626) 430-2294 E-Mail Address ther•E Title Finance Manager Phone (626) 430-2221 E-Mail Address econ indaleca.us All assets transferred to the entity assuming the housing functions between February 1, 2012 and the date the exhibits were created are included in this housing assets list.
The following Exhibits noted with an X in the box are included as part of this inventory of housing assets:
Exhibit A - Real Property X Exhibit B - Personal Property Exhibit C - Low-Mod Encumbrances Exhibit D - Loans/Grants Receivables X Exhibit E - Rents/Operations Exhibit F - Rents Exhibit G - Deferrals X Prepared By: Eva Contreras Date Prepared: 81112012
Exhibit A - Real Property
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Rent it Type of Asset at Legal Title and Description
Carrying Value
of Asset
Total square
footage
Square
footage
reserved
for lowmod
housing
Is the
property
encumbered
by a low-mod
housing
covenant?
Source of low-mod
housing covenant
1//
Date of
transfer to
Housing
Successor
Agency
Construction
or acquisition
cost funded
with Low-Mod Housing Fund
monies
Construction
or acquisition
costs funded
with other
RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
Date of
construction
or
acquisition
by the
former RDA
Interest in real property
(option to purchase,
easement, etc.)
1 Land held for development of
Low-Mod Housing
Olive Pit (APN 8415-001-906) 3,619,547.00 8,319,959 n/a No No 2/112012 3,619,547.00 N/A
N/A 08/19/2004 Own & purchased with UMod
2 Land held for development of
Low-Mod Housing
15848 Juarez Street (APN 8417-028-
907)
269,227.48
N/A
N/A 09/03/2009 Own & purchased with L/Mod
3 Land held for development of
Low-Mod Housing
16046 Peppertree Lane (APN 8417-
033-955)
325,494.00
N/A
N/A 07/23/2010 Own & purchased with UMod
4 Land held for development of
Low-Mod Housing
4618 Nora Avenue (8417-002-007) 310,000.00
N/A
N/A 01/27/2012 Own & purchased with L/Mod
5 Land held for development of
Low-Mod Housing
16203-16233 Arrow Highway (APNs
8619-010-907, 8619-012-905, 8619,- 012-909)
9,270,000.00
N/A
N/A 01/09/2008 Own & purchased with L/Mod
6 Restrictive Covenant
15844 Hidalgo Street
Unknown
N/A
N/A 08/08/2003 Option to Purchase
7 Restrictive Covenant
16058 Central Street
Unknown 5,000 - 9,000 5000-
9,000
Yes CRL 20/2012 168,600.00 N/A N/A
12/23/2005
Option to Purchase
8 Restrictive Covenant
4820 Baca Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 358,600.00 N/A N/A 12/23/2005
Option to Purchase
9 Restrictive Covenant
4819 Baca Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 168,600.00 N/A N/A 1 2/2 3/2 005
Option to Purchase
10 Restrictive Covenant
4823 Sabre Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 310,600.00 N/A N/A 1 2/2 8/2 005
Option to Purchase
11 Restrictive Covenant
4642 Nora Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 327,250.00 N/A N/A 12/28/2005
Option to Purchase
12 Restrictive Covenant
4821 Baca Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 313,842.82 N/A N/A 12/23/2005
Option to Purchase
13 Restrictive Covenant
4842 Baca Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 358,600.00 N/A N/A 11/18/2010
Option to Purchase
14 Restrictive Covenant
4851 Sabre Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 310,600.00 N/A N/A 1/3/2006
Option to Purchase
15 Restrictive Covenant
4817 Baca Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 20/2012 168,600.00 N/A N/A 1/3/2006
Option to Purchase
16 Restrictive Covenant
5139 Allen Drive
Unknown 5,000- 9.000 5000 - 9000 Yes CRL 20/2012 169,000.00 N/A N/A 12/22/2006
Option to Purchase
17 Restrictive Covenant
5219 Allen Drive
Unknown 5,000 -9,000 5000 - 9000 Yes CRL 20/2012 169,000.00 N/A N/A 12/22/2006
Option to Purchase
18 Restrictive Covenant
5151 Allen Drive
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 20/2012 313,000.00 N/A N/A 12/26/2006
Option to Purchase
19 Restrictive Covenant
5143 Allen Drive
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 20/2012 169,000.00 N/A N/A 12/29/2006
Option to Purchase
20 Restrictive Covenant
2417 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes ' CRL 20/2012 313,000.00 N/A N/A 1/3/2007
Option to Purchase
21 Restrictive Covenant
2425 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 313,000.00 N/A N/A 12/29/2006
Option to Purchase
22 Restrictive Covenant
15854 Hidalgo Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 313,000.00 N/A N/A 12/29/2006
Option to Purchase
23 Restrictive Covenant
4642 Fraijo Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 291,000.00 N/A N/A 12/29/2006
Option to Purchase
Item it Type of Asset al Legal Title and Description
Carrying Value
of Asset
Total square
footage
Square
footage
reserved
for low.
mod
housing
Is the
property
encumbered
by a low-mod
housing
covenant?
Source of low-mod
housing covenant
b/
Date of
transfer to
Housing
Successor
Agency
Construction
or acquisition
cost funded
with Low-Mod
Housing Fund
monies
Construction
or acquisition
costs funded
with other
RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
Date of
construction
Or
acquisition
by the
former RDA
Interest in real property
(option to purchase,
easement, etc.)
24 Restrictive Covenant
2421 Alice Rodriguez Cir.
Unknown 5,000- 9,000 5000 - 9000 Yes CAL 2/1/2012 363,000.00 N/A N/A 1/3/2007
Option to Purchase
25 Restrictive Covenant
2469 Alice Rodriguez Co.
Unknown 5,000- 9,000 5000 -9000 Yes CAL 2/1/2012 291,000.00 N/A N/A 1/5/2007
Option to Purchase
26 Restrictive Covenant
2437 Alice Rodriguez Co.
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 363,000.00 N/A N/A 1/9/2007
Option to Purchase
27 Restrictive Covenant
15850 Hidalgo Street
Unknown 5,000- 9,000 5000 - 9000 Yes CAL 2/1/2012 313,000.00 N/A N/A 1/9/2007
Option to Purchase
28 Restrictive Covenant
726 Meridian Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 363,000.00 N/A N/A 1/2/2007
Option to Purchase
29 Restrictive Covenant
2445 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 291,000.00 N/A N/A 1/5/2007
Option to Purchase
30 Restrictive Covenant
2473 Alice Rodriguez CS.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 363,000.00 N/A N/A 1/5/2007
Option to Purchase
31 Restrictive Covenant
2465 Alice Rodriguez CS.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 157,000.00 N/A N/A 1/2/2007
Option to Purchase
32 Restrictive Covenant
2477 Alice Rodriguez CS.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 291,000.00 N/A N/A 1/4/2007
Option to Purchase
33 Restrictive Covenant
2455 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 363,000.00 N/A N/A 1/5/2007
Option to Purchase
34 Restrjctrve Covenant
2409 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 291,000.00 N/A N/A 1/5/2007
Option to Purchase
35 Aestrjctico Covenant
2405 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 169,000.00 N/A N/A 1/9/2007
Option to Purchase
36 Restrictive Covenant
2413 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 337,000.00 N/A N/A 1/3/2007
Option to Purchase
37 Restrictive Covenant
2461 Alice Rodrjgvez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 313,000.00 N/A N/A 1/5/2007
Option to Purchase
38 Restrictive Covenant
4638 Fraijo Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 291,000.00 N/A N/A 1/2/2007
Option to Purchase
39 Restrictive Covenant
5135 Allen Drive
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 313,000.00 N/A N/A 1/5/2007
Option to Purchase
40 Restrictive Covenant
2430 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 157,000.00 N/A N/A 1/24/2007
Option to Purchase
41 Restrictive Covenant
2474 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 313,000.00 N/A N/A 1/31/2007
Option to Purchase
42 Restrictive Covenant
2410 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 337,000.00 N/A N/A 1/26/2007
Option to Purchase
43 Restrictive Covenant
2402 Alice Rodriguez Cir.
Unknown 5,000 - 9,000 5000 - 9000 Yes CAL 2/1/2012 291,000.00 N/A N/A 2/5/2007
Option to Purchase
44 Restrictive Covenant
2470 Alice Rodriguez Cit.
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 157,000.00 N/A N/A 1/31/2007
Option to Purchase
45 Restrictive Covenant
2442 Alice Rodriguez. Cir.
Unknown 9,000- 9,000 5000 - 9000 Yes CAL 2/1/2012 337,000.00 N/A N/A 1/31/2007
Option to Purchase
46 Restrictive Covenant
4658 Fraijo Avenue
Unknown 5,000- 9.000 5000 - 9000 Yes GIRL 2/1/2012 337,000.00 N/A N/A 2/6/2007
Option to Purchase
47 Res c Covenant
2401 Aloe Rodriguez Cir.
Unknown 5,000- 9,000 5000- 9000 Yes CAL 2/1/2012 291,000.00 N/A N/A 2/26/2007
Option to Purchase
Item it Type of Asset at Legal Title and Description
Carrying Value
of Asset
Total square
footage
Square
footage
reserved
for lowmod
housing
Is the
property
encumbered
by a low-mod
housing
covenant?
Source of low-mod
housing covenant
b/
Date of
transfer to
Housing
Successor
Agency
Construction
or acquisition
cost funded
with Low-Mod
Housing Fund
monies
Construction
or acquisition
costs funded
with other
RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
Date of
Construction
Of
acquisition
by the
former RDA
Interest in real property
(option to purchase.
easement, etc.)
48 Restrictive Covenant
2434 Alice Rodriguez Cir.
Unknown 5,000- 9,000 5000- 9000 Yes CRL 2/1/2012 313,000.00 N/A N/A 2/28/2007
Option to Purchase
49 Restrictue Covenant
2424 Park Rose Avenue
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,628.00 N/A N/A 9/22/2003
Option to Purchase
50 Restrictive Covenant
15828 Juarez Street
Unknown 5,000- 9.000 5000 - 9000 Yes CRL 2/1/2012 99,999.50 N/A N/A 4/14/2004
Option to Purchase
51 Restrictive Covenant
2125 Ruelas Street
Unknown 5,000- 9.000 5000 - 9000 Yes CRL 211/2012 49,571.90 N/A N/A 2/5/2004
Option to Purchase
52 Restrictive Covenant
15830 Hidalgo Street
Unknown 5,000- 9.000 5000 - 9000 Yes CRL 2/1/2012 100,000.00 N/A N/A 6/30/2004
Option to Purchase
53 Restrictive Covenant
16075 Peppertree Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 50,000.00 N/A N/A 4/16/2004
Option to Purchase
54 Restrictive Covenant
2141 Park Rose Avenue
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 98,288.95 N/A N/A 4/16/2004
Option to Purchase
55 Restrictive Covenant
2440 Ruelas Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,725.95 N/A N/A 4/16/2004
Option to Purchase
56 Restrictive Covenant
4608 Nora Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,941.90 N/A N/A 5/14/2004
Option to Purchase
57 Restrictive Covenant
15823 Juarez Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,435.95 N/A N/A 6/30/2004
Opfion to Purchase
58 Restrictive Covenant
16133 Progress Lane
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 211/2012 99,619.95 N/A N/A 6/30/2004
Option to Purchase
59 Restrictive Covenant
2415 Ruelas Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,965,95 N/A N/A 9/30/2004
Option to Purchase
60 Restrictive Covenant
16164 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,995,90 N/A N/A 10/4/2004
Option to Purchase
61 Restrictive Covenant
16134 Progress Lane
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,876.90 N/A N/A 9/30/2004
Option to Purchase
62 Restrictive Covenant
16134 Central Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,295.95 N/A N/A 11/24/2004
Option to Purchase
63 Restrictive Covenant
16135 Pepper/roe Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,976.90 N/A N/A 9/30/2004
Option to Purchase
64 Restrictive Covenant
16169 Progress Lane
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,816.90 N/A N/A 10/4/2004
Option to Purchase
65 Restrictive Covenant
16148 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,999.95 N/A N/A 9/30/2004
Option to Purchase
66 Restrictive Covenant
2439 Ruelas Street
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 49,996.90 N/A N/A 12/14/2004
Option to Purchase
67 Restrictive Covenant
16144 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,970.95 N/A N/A 4/29/2005
Option to Purchase
68 Restrictive Covenant
737 Shrode Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 211/2012 99,995.90 N/A N/A 12/14/2004
Option to Purchase
69 Restrictive Covenant
16024 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 211/2012 100,000.00 N/A N/A 4/29/2005
Option to Purchase
70 Restrictive Covenant
2401 Ruela Street
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 49,990.95 N/A N/A 12/14/2004
Option to Purchase
71 Restrictive Covenant
4911 Nora Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,634.95 N/A N/A 12/23/2004
Option to Purchase
Item # Type of Asset at Legal Title and Description
Carrying Value
of Asset
Total square
footage
Square
footage
reserved
for lowmod
housing
Is the
property
encumbered
by a low-mod
housing
covenant?
Source of low-mod
housing covenant
bi
Date of
transfer to
Housing
Successor
Agency
Construction
or acquisition
cost funded
with Low-Mod
Housing Fund
monies
Construction
or acquisition
costs funded
with other
RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
Date of
construction
Of
acquisition
by the
former RDA
Interest in real property
(option to purchase,
easement, etc.)
72 Restrictive Covenant
4617 Nora Avenue
Unknown 5000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,661.90 N/A N/A 12/14/2004
Option to Purchase
73 Restrictive Covenant
5113 Allen Drive
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,011.90 N/A N/A 12/14/2004
Option to Purchase
74 Restrictive Covenant
2412 Citrus View
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 49,956.90 N/A N/A 9/20/2006
Option to Purchase
75 Restrictive Covenant
16081 Cello del Norte
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 100,000.00 N/A N/A 9/20/2005
Option to Purchase
76 Restrictive Covenant
5105 Allen Drive
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,904.90 N/A N/A 8/16/2006
Option to Purchase
77 Restrictive Covenant
4653 Nora Avenue
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 99,754.90 N/A N/A 9/12/2006
Option to Purchase
78 Restrictive Covenant
16165 Progress Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,801.90 N/A N/A 5/3/2005
Option to Purchase
79 Restrictive Covenant
16145 Pepertree Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 100,502.23 N/A N/A 9/16/2004
Option to Purchase
80 Restrictive Covenant
16044 Calle de Paseo
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 7/10/2006
Option to Purchase
81 Restrictive Covenant
16051 Olive Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 59,176.90 N/A N/A 7/10/2006
Option to Purchase
82 Restrictive Covenant
16050 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 101,587.95 N/A N/A 7/10/06
Option to Purchase
83 Restrictive Covenant
4636 Fraijo Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 100,000.00 N/A N/A 12/1/2004
Option to Purchase
84 Restrictive Covenant
16047 Peppertree Lane
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 211/2012 99,867.95 N/A N/A 1/11/2005
Option to Purchase
85 Restrictive Covenant
16140 Calle de Paseo
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 60,000.00 N/A N/A 4/12/2005
Option to Purchase
86 Restrictive Covenant
16124 Calle de Paseo
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 134,668.95 N/A N/A 5/1/2007
Option to Purchase
87 Restrictive Covenant
16161 Progress Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 99,955.90 N/A N/A 11/8/2006
Option to Purchase
88 Restrictive Covenant
16039 Martinez Street
Unknown 5,000- 9,000 5000 - 9000 Yes CRL 2/1/2012 59,913.40 N/A N/A 10/6/2006
Option to Purchase
89 Restrictive Covenant
4611 Fraijo Avenue
Unknown 5,000 - 9.000 5000 - 9000 Yes CRL 2/1/2012 117,656.52 N/A N/A 10/5/2006
Option to Purchase
90 Restrictive Covenant
4647 Nora Avenue
Unknown 5,000- 9.000 5000 - 9000 Yes CRL 2/1/2012 128,346.90 N/A N/A 7/10/2006
Option to Purchase
91 Restrictive Covenant
16055 Martinez Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 59,524.90 N/A N/A 3/30/2005
Option to Purchase
92 Restrictive Covenant
4612 Fraijo Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 129,255.95 N/A N/A 8/11/2005
Option to Purchase
93 Restrictive Covenant
4825 Calle del Sur
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 7/6/2006
Option to Purchase
94 Restrictive Covenant
16160 Progress Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 129,018.46 N/A N/A 1/8/2007
Option to Purchase
95 Restrictive Covenant
16129 Progress Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 5/1/2007
Option to Purchase
Date of
construction
Or
acquisition
by the
former RDA
4/26/2007
Interest in real properly
(option to purchase,
easement, etc.)
Option to Purchase Optics o Purchase
4/26/2007
Option to Purchase
5/1/2007
Option to Purchase
7/31/2007
Option to Purchase
10/30/2006
Option to Purchase
11/28/2006
Option to Purchase
9/7/2006
Option to Purchase
7/12/2006
Option to Purchase
4/3/2007
Option to Purchase
9/13/2007
Option to Purchase
12/18/2007
Option to Purchase
7/9/2009
Option to Purchase
8/9/2009
Option to Purchase
11/3/2009
(fern it Type of Asset a/ Legal Title and Description
Carrying Value
of Asset
Total square
footage
Square
footage
reserved
for lowmod
housing
Is the
properly
encumbered
by a low-mod
housing
covenant?
Source of low-mod
housing covenant
b/
Date of
transfer to
Housing
Successor
Agency
Construction
or acquisition
cost funded
with Low-Mod
Housing Fund
monies
Construction
or acquisition
costs funded
with other
RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
96 Restrictive Covenant
4870 Sabre Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 97 Restrictive Covenant
16066 Peppertree Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 57,698.95 N/A N/A 98 Restrictive Covenant
16109 Central Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 60,000.00 N/A N/A 99 Restrictive Covenant
4622 Nora Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 134,990.95 N/A N/A 100 Restrictive Covenant
5247 Morada Street
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 101 Restrictive Covenant
4816 Sabre Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 59,833.50 N/A N/A 102 Restrictive Covenant
16071 Calle del Norte
Unknown 5,000 - 9.000 5000 - 9000 Yes CRL 2/1/2012 127,466.95 N/A N/A 103 Restrictive Covenant
16027 Maginez Street
Unknown 5,000 - 9.000 5000 - 9000 Yes CRL 2/1/2012 134,941.95 N/A N/A 104 Restrictive Covenant
4635 Fraijo Avenue
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 134,343.95 N/A N/A 105 Restrictive Covenant
16147 Progress Lane
Unknown 5,000 -9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A 106 Restrictive Covenant
4841 Calle del Sur
Unknown 5,000 -9,000 5000 - 9000 Yes CRL 2/1/2012 134,910.00 N/A N/A 107 Restrictive Covenant
16038 Peppertree Lane
Unknown 5,000 - 9,000 5000 - 9000 Yes CRL 2/1/2012 60,000.00 N/A N/A 108 Restrictive Covenant
16128 Collude Paseo
Unknown 5,000 -9.000 5000 - 9000 Yes CRL 2/1/2012 52,903.19 N/A N/A 109 Restrictive Covenant
2446 Ruelas Street
Unknown 5,000 -9,000 5000 - 9000 Yes CRL 2/1/2012 135,000.00 N/A N/A at Asset types may include low-mod housing, mixed-income housing, low-mod housing with commercial space, b/ May include California Redevelopment Law, tax credits, state bond indentures, and federal funds reguiremen
Exhibit B - Personal Property
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item # Type of Asset a/ Description
Carrying Value
of Asset
Date of
transfer to
Housing
Successor
Agency
Acquisition
cost funded
with Low-Mod
Housing Fund
monies
Acquisition
costs funded
with other RDA
funds
Acquisition
costs funded
with nonRDA funds
Date of
acquisition by
the former RDA
1 5 6 7 ii I I 8 9 II III 12
13 4
5 16 17 18 111 al 111 19 2o MIN=
at Asset types any personal property provided in residences, including furniture and appliances, all housing-related files and loan documents, office supplies, software licenses, and mapping programs, that were acquired for low and moderate income housing purposes, either by purchase or through a loan, in whole or in part, with any source of funds.
Exhibit C - Low-Mod Encumbrances
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item #
Type of housing built
or acquired with
enforceably obligated
funds a/
Date contract for
Enforceable
Obligation was
executed
Contractual
counterparty
Total amount
currently
owed for the
Enforceable
Obligation
Is the property
encumbered by
a low-mod
housing
covenant?
Source of lowmod housing
covenant b/
Current
owner of
the property
Construction or
acquisition cost
funded with
Low-Mod
Housing Fund
monies
Construction or
acquisition costs
funded with
other RDA funds
Construction
or acquisition
costs funded
with non-RDA
funds
Date of
construction or
acquisition of
the property
1 Senior Low/Mod Rental Apartments 3/23/2011 The Northridge Group Inc. 1,334,000 Yes California Redevelopment Law Irwindale Housing Authority $1,987,000 N/A N/A 11/14/2011 2 3
4 5
6 7
8 9
10 11 12 13 14 15 16 17 18 19
20 at May include low-mod housing, mixed-income housing, low-mod housing with commercial space, mixed-income housing with commercial space. b/ May include California Redevelopment Law, tax credits, state bond indentures, and federal funds requirements.
Exhibit D - Loans/Grants Receivables
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are tnere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
1 Loan 168,600.00 12/23/2005
For personal information
about loan recipients, contact Successor Agency staff
Subsidy Home
Loans
Agreement, Deed of
Trust, & Promissory
Note
12/23/2050 (b) 3.00% 118,020.00
2 Loan 358,600.00 12/23/2005 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory 12/23/2050 (b) 3.00% 251,020.00 3 Loan 168,600.00 12/23/2005 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/23/2050 (b) 3.00% 118,020.00 4 Loan 310,600.00 12/28/2005 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/28/2050 (b) 3.00% 217,420.00 5 Loan 327,250.00 12/28/2005 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/28/2050 (b) 3.00% 229,075.00 6 Loan 313,842.82 12/23/2005 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/23/2050 (b) 3.00% 222,409.38 7 Loan 358,600.00 11/18/2010 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 11/18/2055 (b) 3.00% 251,020.00 8 Loan 310,600.00 1/3/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/3/2051 (b) 3.00% 217,420.00 9 Loan 168,600.00 1/3/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/3/2051 (b) 3.00% 118,020.00 10 Loan 169,000.00 12/22/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, 8, Promissory Note
12/22/2051 (b) 3.00% 126,750.00
11 Loan 169,000.00 12/22/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/22/2051 (b) 3.00% 126,750.00 12 Loan 313,000.00 12/26/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/26/2051 (b) 3.00% 234,750.00 13 Loan 169,000.00 12/29/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 12/29/2051 (b) 3.00% 126,750.00 14 Loan 313,000.00 1/3/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/3/2052 (b) 3.00% 234,750.00 15 Loan 313,000.00 12/29/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
12/29/2051 (b) 3.00% 234,750.00
16 Loan 313,000.00 12/29/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
12/29/2051 (b) 3.00% 234,750.00
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are tnere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if
the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
17 Loan 291,000.00 12/29/2006 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
12/29/2051 (b) 3.00% 218,250.00
18 Loan 363,000.00 1/3/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/3/2052 (b) 3.00% 272,250.00 19 Loan 291,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/5/2052 (b) 3.00% 218,250.00
20 Loan 363,000.00 1/9/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/9/2052 (b) 3.00% 272,250.00 21 Loan 313,000.00 1/9/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/9/2052 (b) 3.00% 234,750.00
22 Loan 363,000.00 1/2/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/2/2052 (b) 3.00% 272,250.00 23 Loan 291,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/5/2052 (b) 3.00% 218,250.00 24 Loan 363,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/5/2052 (b) 3.00% 272,250.00 25 Loan 157,000.00 1/2/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/2/2052 (b) 3.00% 117,750.00
26 Loan 291,000.00 1/4/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/4/2052 (b) 3.00% 218,250.00
27 Loan 363,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/5/2052 (b) 3.00% 272,250.00 28 Loan 291,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/5/2052 (b) 3.00% 218,250.00
29 Loan 169,000.00 1/9/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/9/2052 (b) 3.00% 126,750.00
30 Loan 337,000.00 1/3/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, Sr Promissory Note
1/3/2052 (b) 3.00% 252,750.00
31 Loan 313,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/5/2052 (b) 3.00% 234,750.00
32 Loan 291,000.00 1/2/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/2/2052 (b) 3.00% 218,250.00
33 Loan 313,000.00 1/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/5/2052 (b) 3.00% 234,750.00
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are mere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
34 Loan 157,000.00 1/24/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/24/2052 (b) 3.00% 117,750.00
35 Loan 313,000.00 1/31/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 1/31/2052 (b) 3.00% 234,750.00 36 Loan 337,000.00 1/26/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/26/2052 (b) 3.00% 252,750.00
37 Loan 291,000.00 2/5/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
2/5/2052 (b) 3.00% 218,250.00
38 Loan 157,000.00 1/31/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/31/2052 (b) 3.00% 117,750.00
39 Loan 337,000.00 1/31/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note
1/31/2052 (b) 3.00% 252,750.00
40 Loan 337,000.00 2/6/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 2/6/2052 (b) 3.00% 269,600.00 41 Loan 291,000.00 2/26/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 2/26/2052 (b) 3.00% 232,800.00 42 Loan 313,000.00 2/28/2007 Contact Successor Agency staff Subsidy Home Loans Agreement, Deed of Trust, & Promissory Note 2/28/2052 (b) 3.00% 250,400.00 43 Loan 25,000.00 5/31/1995 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
Upon transfer of
Property (a) 0.00% 25,000.00
44 Loan 25,000.00 9/21/1995 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
Upon transfer of
Property (a) 0.00% 25,000.00
45 Loan 25,960.00 2/12/1997 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note Property
Upon transfer of (a) 0.00% 25,960.00
46 Loan 7,576.00 2/13/1997 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note Property
Upon transfer of (a) 0.00% 7,576.00
47 Loan 4,440.00 6/11/1998 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note Property
Upon transfer of
(a) 0.00% 4,440.00
48 Loan 15,990.00 6/22/1998 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
Upon transfer of
Property (a) 0.00% 15,990.00
49 Loan 42,545.00 7/13/1999 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note Property
Upon transfer Of (a) 0.00% 42,545.00
50 Loan 99,628.00 9/22/2003 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
9/22/2048 (b) 3.00% 64,758.20
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are tnere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
51 Loan 99,999.50 4/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/14/2049 (b) 3.00% 59,999.70
52 Loan 49,571.90 2/5/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
2/5/2014 (b) 2.00% 9,914.38
53 Loan 35,000.00 4/11/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/11/2014 (b) 6.00% 10,000.00
54 Loan 100,000.00 6/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
6/30/2049 (b) 3.00% 60,000.00
55 Loan 50,000.00 4/16/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/16/2014 (b) 2.00% 10,000.00
56 Loan 98,288.95 4/16/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/16/2049 (b) 3.00% 58,973.37
57 Loan 99,725.95 4/16/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
4/16/2049 (b) 3.00% 59,835.57
58 Loan 99,941.90 5/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
5/14/2049 (b) 3.00% 64,962.24
59 Loan 99,435.95 6/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
6/30/2049 (b) 3.00% 64,633.37
60 Loan 99,619.95 6/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
6/30/2049 (b) 3.00% 64,752.97
61 Loan 99,965.95 9/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
9/30/2049 (b) 3.00% 64,977.87
62 Loan 99,995.90 10/4/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
10/4/2049 (b) 3.00% 64,997.34
63 Loan 99,876.90 9/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
9/30/2049 (b) 3.00% 64,919.99
64 Loan 99,295.95 11/24/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
11/24/2049 (b) 3.00% 64,542.37
65 Loan 99,976.90 9/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
9/30/2049 (b) 3.00% 64,984.99
66 Loan 99,816.90 10/4/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
10/4/2049 (b) 3.00% 64,880.99
67 Loan 99,999.95 9/30/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
9/30/2049 (b) 3.00% 64,999.97
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are tnere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
68 Loan 49,996.90 12/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
12/14/2014 (b) 2.00% 17,498.92
69 Loan 99,970.95 4/29/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/29/2050 (b) 3.00% 64,981.12
70 Loan 99,995.90 12/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
12/14/2049 (b) 3.00% 64,997.34
71 Loan 100,000.00 4/29/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/29/2050 (b) 3.00% 65,000.00
72 Loan 49,990.95 12/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
12/14/2014 (b) 2.00% 17,496.83
73 Loan 99,634.95 12/23/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, S, Promissory
Note
12/23/2049 (b) 3.00% 64,762.72
74 Loan 99,661.90 12/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
12/14/2049 (b) 3.00% 64,780.24
75 Loan 99,011.90 12/14/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
12/14/2049 (b) 3.00% 64,357.74
76 Loan 49,956.90 9/20/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
9/20/2016 (b) 2.00% 17,484.92
77 Loan 100,000.00 9/20/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
9/20/2050 (b) 3.00% 70,000.00
78 Loan 99,904.90 8/16/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
8/16/2051 (b) 3.00% 69,933.43
79 Loan 99,754.90 9/12/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, 8, Promissory
Note
9/12/2051 (b) 3.00% 74,816.18
80 Loan 99,801.90 5/3/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
5/3/2050 (b) 3.00% 74,851.43
81 Loan 100,502.23 9/16/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
9/16/2049 (b) 3.00% 75,376.67
82 Loan 135,000.00 7/10/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
7/10/2051 (b) 3.00% 101,250.00
83 Loan 59,176.90 7/10/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
7/10/2016 (b) 2.00% 29,588.45
84 Loan 101,587.95 7/10/06 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
7/10/2051 (b) 3.00% _ 76,190.96
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are mere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
85 Loan 100,000.00 12/1/2004 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, 8i Promissory
Note
12/1/2049 (b) 3.00% 70,000.00
86 Loan 99,867.95 1/11/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
1/11/2050 (b) 3.00% 74,900.96
87 Loan 60,000.00 4/12/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
4/12/2015 (b) 2.00% 30,000.00
88 Loan 134,668.95 5/1/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
5/1/2052 (b) 3.00% 101,001.71
89 Loan 99,955.90 11/8/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
11/8/2051 (b) 3.00% 74,966.93
90 Loan 59,913.40 10/6/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
10/6/2016 (b) 2.00% 29,956.70
91 Loan 117,656.52 10/5/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
10/5/2051 (b) 3.00% 88,242.39
92 Loan 128,346.90 7/10/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
7/10/2051 (b) 3.00% 96,260.18
93 Loan 59,524.90 3/30/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
3/30/2015 (b) 2.00% 35,714.94
94 Loan 129,255.95 8/11/2005 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
8/11/2050 (b) 3.00% 96,941.96
95 Loan 135,000.00 7/6/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
7/6/2051 (b) 3.00% 101,250.00
96 Loan 129,018.46 1/8/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
1/8/2052 (b) 3.00% 96,763.85
97 Loan 135,000.00 5/1/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
5/1/2052 (b) 3.00% 101,250.00
98 Loan 135,000.00 4/26/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/26/2052 (b) 3.00% 101,250.00
99 Loan 57,698.95 4/26/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, 8r Promissory
Note
4/26/2017 (b) 2.00% 43,274.21
100 Loan 60,000.00 5/1/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
5/1/2017 (b) 2.00% 30,000.00
101 Loan 134,990.95 7/31/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
7/31/2052 (b) 3.00% 101,243.21
Item #
Was the Low-Mod
Housing Fund
amount issued for a
loan or a grant?
Amount of the loan
or grant
Date the loan or
grant was issued
Person or entity to whom
the loan or grant was
issued
Purpose for
which the funds
were loaned or
granted
Are mere
contractual
requirements
specifying the
purposes for which
the funds may be
used?
Repayment date, if the funds are for a
loan
Interest rate
of loan
Current
outstanding
loan balance
102 Loan 135,000.00 10/30/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
10/30/2051 (b) 3.00% 101,250.00
103 Loan 59,833.50 11/28/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
11/28/2051 (b) 2.00% 29,916.75
104 Loan 127,466.95 9/7/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
9/7/2051 (b) 3.00% 101,973.56
105 Loan 134,941.95 7/12/2006 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
7/12/2051 (b) 3.00% 107,953.56
106 Loan 134,343.95 4/3/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
4/3/2052 (b) 3.00% 114,192.36
107 Loan 135,000.00 9/13/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
9/13/2052 (b) 3.00% 108,000.00
108 Loan 134,910.00 12/18/2007 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
12/18/2052 (b) 3.00% 114,673.50
109 Loan 60,000.00 7/9/2009 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
7/9/2019 (b) 2.00% 48,000.00
110 Loan 52,903.19 8/9/2009 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of Trust, & Promissory
Note
8/9/2019 (b) 2.00% 42,322.55
111 Loan 135,000.00 11/3/2009 Contact Successor Agency staff Home Improvement Loan
Agreement, Deed of
Trust, & Promissory
Note
11/3/2054 (b) 3.00% 108,000.00
Footnotes:
(a) At the conclusion of the 10 year time period from the date the loan was issued, the accrued interest is deemed paid in full by the owner/borrower and the indebtedness secured by the Note is the principal amount only. (b) Note Amount is deferred and forgiven at the end of the Affordability Period unless and except and Event of Acceleration requires the loan to become due and payable.
Exhibit E - Rents/Operations
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item # Type of payment a/
Type of property
with which they
payments are
associated b/
Property
owner
Entity that
collects the
payments
Entity to which
the collected
payments are
ultimately
remitted
Purpose for
which the
payments are
used
Is the property
encumbered
by a low-mod
housing
covenant?
Source of lowmod housing
covenant c/
Item # from
Exhibit A the
rent/operation
is associated
with (if
applicable)
2 3
4 5 6 7
8 9
10 11 12 13
14 15 16 17
18 19
20 a/ May include revenues from rents, operation of properties, residual receipt payments from developers, conditional grant repayments, costs savings and proceeds from refinancing, and principal and interest payments from homebuyers subject to enforceable income limits.
b/ May include low-mod housing, mixed-income housing, low-mod housing with commercial space, mixed-income housing with commercial space. c/ May include California Redevelopment Law, tax credits, state bond indentures, and federal funds requirements.
Exhibit F - Rents
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item # Type of payment al
Type of property
with which the
payments are
associated b/
Property
owner
Entity that
collects the
payments
Entity to which
the collected
payments are
ultimately
remitted
Purpose for
which the
payments are
used
Is the property
encumbered
by a low-mod
housing
covenant?
Source of lowmod housing
covenant c/
Item # from
Exhibit A the rent
is associated
with (if
applicable)
1 2
3 4
5 6 7 8 9
10 11 12 13 14 15 16 17 18 19
20 at May include rents or home loan payments.
b/ May include low-mod housing, mixed-income housing, low-mod housing with commercial space, mixed-income housing with commercial space. c/ May include California Redevelopment Law, tax credits, state bond indentures, and federal funds requirements.
Exhibit G - Deferrals
Irwindale Housing Authority
Inventory of Assets Received Pursuant to Health and Safety Code section 34176 (a) (2) Item #
Purpose for which
funds were deferred
Fiscal year in
which funds
were deferred
Amount
deferred
Interest rate
at which
funds were
to be repaid
Current
amount owed
Date upon which
funds were to be
repaid
1 SERAF payments
pursuant to HSC
Sections 33690(c)(1)
2009-10 5,988,407.00 0% 1,152,737.00 6/30/2015
2 SERAF payments
pursuant to HSC
33690.5(c)(1)
2010-11 1,232,907.00 0% 1,232,907.00 6/30/2016
3 See footnote (a) below. 2010-11 11,844,747.00 4.50% 11,287,738 10 Years Ending Sept 2010 Footnotes:
(a) On September 22, 2010, the former Redevelopment Agency documented a real estate transaction that effectively resulted in the creation of a $11,844,747 loan amount due from the Agency's non-housing Tax Increment Fund to the Agency's Low-Mod Housing Fund. In accordance with California Redevelopment Law, if a redevelopment purchased land using Low-Mod Housing Funds originally intended for the development of affordable housing, but ultimately determined that the land was not suitable for affordeable housing, the redevelopment agency was required to repay the Low-Mod Housing Fund. This loan receivable has been appropriately reported to the California Department of Housing & Community Development (HCD) as part of the former Agency's 2010-11 annual HCD reporting requirements. The Agency initially purchased a 22.9 acre site from Vulcan Materials using 78.725% Housing Fund monies and 21.275% non-housing funds for a total purchase price of $10,201,126 ($8,030,825 + $2,170,301). The Agency intended to develop housing on an area of the site consistent with the percentage of Housing Funds invested. After further contemplation by the Agency Board and understanding the fact that the site is predominately surrounded by industrial sites as well as a railway line that experienced a derailment, causing debris to spill into the site, the Agency Board changed direction on the use of the site. Instead, it marketed the site for industrial uses, which resulted in attracting a low-impact, more appropriate use of the site for development of an industrial/office building.
The Disposition and Development Agreement (DDA) between the Agency and the developer/operator required the operator to pay the Agency $15,046,000 for the site. The fair market value of the site at the time of the sale was determined at $18,460,000, based on a February 24, 2009 appraisal by Parkcenter Realty Advisors, but higher than the reuse value developed by Keyser Marston Associates, Inc. of $14,911,000. As such, the land write-down was booked and attributed 100% to the Agency's non-housing funds, keeping the Low-Mod Housing Fund whole through a loan from the Agency's non-housing Tax Increment Fund to the Low-Mod Housing Fund requiring the repayment to the Housing Fund of the entire appraised fair market value of the site as DDA payments are made by the operator. DDA payments to the Agency's non-housing fund and Low-Mod Housing Fund per the DDA is on an installment basis, with $677,070 ($533,023 Housing + $144,047 Non-housing) as the down payment and $14,368,930 ($11,311,724 Housing + $3,057,206 Non-housing) through the Agency Note, having a term of 10 years at 4.50% interest. Through the payments from the Agency Note, the Low-Mod Housing Fund will ultimately be re-paid a total of $16,067,301 (unless repaid sooner), which represents its entire interest in the site, based on the appraised value described above, plus accrued interest per the Agency Note.
15 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2021-22 Annual Report
APPENDIX 3: REPORT PURSUANT TO HEALTH AND SAFETY CODE SECTION 34176.1
Health and Safety Code Section 34176.1 requires successor housing entities to prepare an annual report detailing compliance with new expenditure limitations and other information (“Housing Successor Compliance Report” or “SB 341 Report”), including:
§ Amounts deposited into the LMIHAF;
§ Statement of the balance of the LMIHAF;
§ Description of expenditures by category;
§ Statutory value of real property;
§ Description of transfers;
§ Description of projects that receive funding through the Successor Agency’s Recognized Obligation Payment Schedule (ROPS);
§ Status of properties pursuant to a five-year disposition period; § Update on inclusionary and replacement housing obligations; § Compliance with five-year expenditure obligations;
§ Percentage of senior deed-restricted units; and
§ Amount of excess surplus.
Additionally, the report must include an inventory of homeownership units assisted by the former redevelopment agency or the housing successor that are subject to covenants, restrictions, or an adopted program that protects the former redevelopment agency’s investment of LMIHAF moneys.
Authority staff is in the process of auditing its financials and other information. The Housing Successor Compliance Report for the 2021-22 Fiscal Year will be prepared under separate cover for submission to HCD by the end of 2022.
16 IRWINDALE HOUSING AUTHORITY
Fiscal Year 2023-24 Annual Report
APPENDIX 4: 2024 LOS ANGELES COUNTY MAXIMUM RENTAL HOUSING COST LIMITS Very Low-Income Low-Income Moderate-Income
Median Number of Qualifying Max. Rent Qualifying Max. Rent Qualifying Max. Rent Qualifying Maximum Rent Range Qualifying Maximum Rent Range Income Persons Bedrooms Income Limit 30% X 15% Income Limit 30% X 30% Income Limit 30% X 50% Income Limit 30% X 60% 30% X 80% Income Limit 30% X 110% 30% X 120% H&S Code 50052.5 (h) H&S Code 50053.(b)(1) H&S Code 50053.(b)(2) H&S Code 50053.(b)(3) H&S Code 50053.(b)(4) H&S Code 50053.(b)(5) $68,750 One Studio $10,350 $258 $29,150 $516 $48,550 $859 $77,700 $1,031 $1,943 $82,500 $1,891 $2,063 $78,550 Two One $11,800 $295 $33,300 $589 $55,450 $982 $88,800 $1,178 $2,220 $94,300 $2,160 $2,358 $88,400 Three Two $13,300 $332 $37,450 $663 $62,400 $1,105 $99,900 $1,326 $2,498 $106,050 $2,431 $2,651 $98,200 Four Three $14,750 $368 $41,600 $737 $69,350 $1,228 $110,950 $1,473 $2,774 $117,850 $2,701 $2,946 $106,050 Five Four $15,950 $398 $44,950 $795 $74,900 $1,326 $119,850 $1,591 $2,996 $127,300 $2,916 $3,183 $113,900 Six Five $17,100 $427 $48,300 $854 $80,450 $1,424 $128,750 $1,709 $3,219 $136,700 $3,132 $3,418 $121,750 Seven Six $18,300 $457 $51,600 $913 $86,000 $1,522 $137,600 $1,826 $3,440 $146,150 $3,348 $3,654 $129,600 Eight Seven $19,450 $486 $54,950 $972 $91,550 $1,620 $146,500 $1,944 $3,663 $155,550 $3,564 $3,889 Acutely Low-Income Extremely Low-Income
Item #35.A.
Date: October 9, 2024
To: Honorable Chair and Members of the Housing Authority Board From: Julian A. Miranda, Executive Director
Issue: Global Subordination Policy
City Manager's Recommendation:
That the Housing Authority discuss the global subordination policy and provide direction to staff.
Administrative Action:
Submitted / Prepared by:
Fernando Lopez, Housing Coordinator
Approved by:
Julian A. Miranda, Executive Director
Background and Analysis:
This matter has been placed on the agenda at the request of Chair Ambriz. Attached is a copy of the global subordination policy for review and discussion.
Fiscal Impact:
None
Attachments:
1. Global Subordination Policy