Housing Successor
Agency
Annual Compliance
Report
Fiscal Year
2022- 2023
Compliance
X SB34 Report
X Health and Safety Code Section
3416.1(f)
X The City of Merced chose to be the
Housing Successor Agency to the
former Merced Redevelopment
Agency following dissolution in 2012
X Prepared in cooperation with RSG
Inc., housing service provider to the
City of Merced
REPORT SUMMARY
X Housing Asset Fund Balance – 6/30/2023 $11.3 million with $2.1 million cash X Received $50,274 in revenues - interest & investment earnings, and loan repayments
X $106,861 in expenditures – all administrative
X The City is meeting all Housing Asset Fund Requirements and has no Excess Surplus
X Five Successor Agency Properties – all committed or sold for one affordable housing project
X Linc Housing – Approved DDA and PLHA funding commitment, going into escrow
X 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.
X Future expenditures will be monitored for compliance.
Council Action
Receive and file the Housing Successor Agency
Annual Report for Fiscal Year 2022-2023