Housing Successor of the City of San Marcos
Addendum to the Annual Progress Report
For Fiscal Year Ended June 30, 2022
(1) The amount the city, county or city and county received pursuant to subparagraph (A) of paragraph (3) of subdivision (b) of Section 34191.4.
The City did not receive any amount pursuant to subparagraph (A) of paragraph (3) of subdivision (b) of Section 34191.4.
(2) The amount deposited to the Low and Moderate Income Housing Asset Fund, distinguishing between amounts deposited pursuant to subparagraphs (B) and (C) of paragraph (3) of subdivision (b) of Section 34191.4, amounts deposited for other items listed on the Recognized Obligation Payment Schedule, and other amounts deposited.
The Housing Successor Fund received a repayment of $2,500,000.00 from the SERAF loan, which was listed on the Recognized Obligation Payment Schedule. The other amounts the Housing Successor Fund received were $1,260,194.56 in investment income and $776,076.88 in miscellaneous revenue as of June 30, 2022.
(3) A statement of the balance in the fund as of the close of the fiscal year, distinguishing any amounts held for items listed on the Recognized Obligation Payment Schedule from other amounts.
The balance in the Housing Successor Fund as of June 30, 2022 was $25,151,846.58 none of which was held for items listed on the Recognized Obligation Payment Schedule.
(4) A description of expenditures from the fund by category, including, but not limited to, expenditures
a. for monitoring and preserving the long- term affordability of units subject to affordability restrictions or covenants entered into by the redevelopment agency or the housing successor and administering the activities described in paragraphs (2) and (3) of subdivision (a),
The Housing Successor Fund's expenditures related to this category as of June 30, 2022 were $350,624.68
b. for homeless prevention and rapid re-housing services for the development of housing described in paragraph (2) of subdivision (a), and
The Housing Successor Fund had no expenditures related to homeless prevention and rapid re- housing services.
c. for the development of housing pursuant to paragraph (3) of subdivision (a).
The Housing Successor Fund’s expenditures related to this category as of June 30, 2022 were $252,565.52.
(5) As described in paragraph (1) of subdivision (a), the statutory value of real property owned by the housing successor, the value of loans and grants receivable, and the sum of these two amounts.
The statutory value of property owned by the Housing Successor Fund as of June 30, 2022 was $11,927,993.
The value of loans receivable in the Housing Successor Fund as of June 30, 2022 was $162,096,276.92. There were no grants receivables as of June 30, 2022.
The sum of these amounts is $174,024,269.92.
(6) A description of any transfers made pursuant to paragraph (2) of subdivision (c) in the previous fiscal year and, if still unencumbered, in earlier fiscal years and a description of and status update on any project for which transferred funds have been or will be expended if that project has not yet been placed in service.
No transfers occurred pursuant to paragraph (2) of subdivision (c) in the previous fiscal year or earlier fiscal years in the Housing Successor Fund.
(7) A description of any project for which the housing successor receives or holds property tax revenue pursuant to the Recognized Obligation Payment Schedule and the status of that project.
This item is not applicable to the Housing Successor.
(8) For interests in real property acquired by the former redevelopment agency prior to February 1, 2012, a status update on compliance with Section 33334.16. For interests in real property acquired on or after February 1, 2012, a status update on the project.
As of June 30, 2017, the Housing Successor Fund neither owns nor has acquired real property subsequent to February 1, 2012 other than those that are associated with the properties listed on the Housing Asset List submitted to the Department of Finance on August 1, 2012. We are in compliance with Section 33334.16.
(9) A description of any outstanding obligations pursuant to Section 33413 that remained to transfer to the housing successor on February 1, 2012, of the housing successor's progress in meet ing those obligations, and of the housing successor's plans to meet unmet obligations. In addition, the housing successor shall include in the report posted on its Internet Web site the implementation plans of the former redevelopment agency.
As of June 30, 2021, there were no outstanding obligations pursuant to Section 33413 that remained to be transferred to the housing successor on February 1, 2012.
(10) The information required by subparagraph (B) of paragraph (3) of subdivision (a).
Quantity Actual % Target % Status
Total number of units produced: 398 100 N/A N/A
Number of units produced at 30% AMI
or less:
46 12 30 -18%
Number of units produced between at
31-60% AMI:
204 52 50 +2%
Number of units produced between at
61-80% AMI:
148 38 20 +18%
(11) The percentage of units of deed -restricted rental housing restricted to seniors and assisted individually or jointly by the housing successor, its former redevelopment agency, and its host jurisdiction within the previous 10 years in relation to the aggregate number of units of deed- restricted rental housing assisted individually or jointly by the housing successor, its former redevelopment agency, and its host jurisdiction within the same time period.
As of June 30, 2022 , the Housing Successor Fund had 0% of units of deed- restricted rental housing restricted to seniors and assisted individually or jointly by the housing successor, its former redevelopment agency, and its host jurisdiction within the previous 10 years in relation to the aggregate number of units of deed-restricted rental housing assisted individually or jointly by the housing successor, its former redevelopment agency, and its host jurisdiction within the same time period.
(12) The amount of any excess surplus, the amount of time that the successor agency has had excess surplus, and the housing successor's plan for eliminating the excess surplus.
The Housing Successor Fund did not have any excess surplus as of June 30, 2022 or at any point during the fiscal year.
(13) An inventory of homeownership units assisted by the former redevelopment agency or the housing successor that are subject to covenants or restrictions or to an adopted program that protects the former redevelopment agency’s investment of moneys from the Low and Moderate Income Housing Fund pursuant to subdivision (f) of Section 33334.3. This information shall include all of the following information:
(A) The number of those units.
225 units
(B) In the first report pursuant to this subdivision, the number of units lost to the portfolio after February 1, 2012, and the reason or reasons for those losses. For all subsequent reports, the number of the units lost to the portfolio in the last fiscal year and the reason for those losses.
None lost to foreclosure/bankruptcy; 3 lost due to orderly retirement of the mortgage note
Information element
Name of Borrower: John A Klasson and Gail L Klasson
Address of dwelling unit: 150 S. Rancho Santa Fe Rd
Type of loan: RDA
Reason for loan retirement: SOLD
Information element
Name of Borrower: Francisco Oliveira
Address of dwelling unit: 150 Rancho Santa Fe Rd # 122 Type of loan: RDA
Reason for loan retirement: SOLD
Information element
Name of Borrower: Lisa Laughbaum
Address of dwelling unit: 500 Rancheros #51
Type of loan: RDA
Reason for loan retirement: SOLD
(C) Any funds returned to the housing successor as part of an adopted program that protects the former redevelopment agency’s investment of moneys from the Low and Moderate Income Housing Fund.
For fiscal year ended June 30, 2022, $393,993.43 was returned. (D) Whether the housing successor has contracted with any outside entity for the management of the units and, if so, the identity of the entity.
No outside contractor; managed by City staff.