HOUSING
SUCCESSOR
AGENCY
ANNUAL
COMPLIANCE
REPORT
Fiscal Year
2021 - 2022
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 – 6/30/2022 $11.9 million with $2.2 million cash
• Received $129,987 in revenues - interest & investment earnings, and loan repayments
• $186,357 in expenditures – all administrative
• The City is meeting all Housing Asset Fund Requirements and has no Excess Surplus
• Ten Successor Agency Properties – all committed or sold for affordable housing development
• City Council approved Exclusive Negotiating Agreements with:
• Linc Housing – pre-development
• Fuller Center – in escrow for 4 parcels
• Custom Containers 915 – In construction
• The Housing Asset Fund also has approximately $8.6 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 2021-2022