HOUSING SUCCESSOR
AGENCY
ANNUAL COMPLIANCE
REPORT
FISCAL YEAR 2020-2021
This Photo by Unknown Author is licensed under CC BY-SA
COMPLIANCE
• SB34 Report
• Health and Safety Code Section 3416.1(f)
• The City of Merced chose to be the Housing
Successor Agency to the former Merced
Redevelopment Agency following dissolution in 2012
• Prepared in cooperation with RSG Inc., housing
service provider to the City of Merced
REPORT SUMMARY
• Housing Asset Fund Balance – 6/30/2021 $13.5 million with $2.3 million cash • Received $1,989,336 in re venues - interest & investment earnings, and loan repayments
• $1,478,980 in expenditures - $278,980 of administrative expenses and $1,200,000 assisting the Childs and B Street affordable housing development • The City is meeting all Housing Asset Fund Requirements and has no Excess Surplus • Ten Successor Agency Properties – The City issued an RFP to develop these properties with affordable housing
• City Council approved Exclusive Negotiating Agreements with:
• Linc Housing
• Habitat for Humanity
• Custom Containers 915
• The Housing Asset Fund also has approximately $9.6 million in loans receivable from first- time homebuyer loans and developer loans for multifamily rental projects.
COUNCIL ACTION
Receive and file the Housing Successor Agency
Annual Report for Fiscal Year 2020-2021
This Photo by Unknown Author is
licensed under CC BY-NC