Bill Text: CA SB341 | 2013-2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Redevelopment.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2013-10-13 - Chaptered by Secretary of State. Chapter 796, Statutes of 2013. [SB341 Detail]

Download: California-2013-SB341-Introduced.html

---

BILL NUMBER: SB 341	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator DeSaulnier

                        FEBRUARY 20, 2013

   An act to amend Section 34176 of, and to add Section 34176.1 to,
the Health and Safety Code, relating to redevelopment.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 341, as introduced, DeSaulnier. Redevelopment.
   (1) Existing law dissolved redevelopment agencies and community
development agencies, and provided for the designation of successor
agencies that are required to wind down the affairs of the dissolved
redevelopment agencies and to, among other things, make payments due
for enforceable obligations, as defined. Existing law provides that
the city, county, or city and county that authorized the creation of
a redevelopment agency may elect to retain the housing assets and
functions previously performed by the redevelopment agency. Existing
law requires the entity assuming the housing functions of the former
redevelopment agency to perform various functions.
   This bill would change provisions relating to the functions to be
performed by the entity assuming the housing functions of the former
redevelopment agency to instead refer to the housing successor.
   (2) Existing law provides that any funds transferred to the city,
county, or city and county or the entity assuming the housing
functions of the former redevelopment agency, together with any funds
generated from housing assets, shall be maintained in a separate Low
and Moderate Income Housing Asset Fund which shall be used in
accordance with applicable housing-related provisions of the
Community Redevelopment Law, as specified.
   This bill would provide that funds in the Low and Moderate Income
Housing Asset Fund shall be used in accordance with applicable
housing-related provisions of the Community Redevelopment Law, except
as specified. The bill would require the housing successor to expend
funds in the Low and Moderate Income Housing Asset Fund, other than
those expended to meet enforceable obligations, for the purpose of
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, for homeless
prevention and rapid rehousing services to individuals and families
who are homeless or would be homeless but for this assistance, and
for the development of affordable housing, as specified.
   (3) Existing law requires that moneys in the Low and Moderate
Income Housing Fund be used to assist housing for persons of low
income and housing for persons of very low income in at least the
same proportion as the total number of housing units needed for each
of those income groups bears to the total number of units needed for
persons of moderate, low, and very low income within the community,
as specified.
   This bill would provide that these provisions shall not apply, and
would instead require that if the aggregate number of units of
deed-restricted rental housing restricted to seniors and assisted by
the housing successor, its former redevelopment agency, and its host
jurisdiction within the previous 10 years exceeds 50% of the
aggregate number of units of deed-restricted rental housing assisted
by the housing successor, its former redevelopment agency, and its
host jurisdiction within the same time period, then the housing
successor shall not expend these funds to assist additional senior
housing units until the housing successor or its host jurisdiction
assists, and construction has started on, a number of units available
to all persons regardless of age that is equal to 50% of the
aggregate number of units of deed-restricted rental housing units
assisted by the housing successor, its former redevelopment agency,
and its host jurisdiction within the same time period.
   (4) Existing law requires that a specified percentage of all taxes
that are allocated to a former redevelopment agency be used outside
a specified project area upon a resolution of the agency and the
legislative body that the use will be of benefit to the project.
   This bill would provide that program income a housing successor
receives shall not be associated with a project area and may be
expended anywhere within the jurisdiction of the housing successor or
transferred for the purpose of developing transit priority projects,
permanent supportive housing, housing for agricultural employees, or
special needs housing, without a finding of benefit to a project
area, as specified. The bill would also authorize two or more housing
successores, as specified, to agree to transfer funds among their
respective Low and Moderate Income Housing Asset Funds, as specified.

   (5) Existing law provides that if excess surplus accumulates in
the Low and Moderate Income Housing Fund, the former redevelopment
agency may adopt a plan for expenditure of the moneys. Existing law
also requires that upon failure of the former redevelopment agency to
expend or encumber excess surplus in the Low and Moderate Income
Housing Fund, it shall be required to disburse, expend, or encumber
its excess surplus, as specified.
   This bill would provide that these provisions shall not apply, and
would instead provide that if a housing successor has an excess
surplus, the housing successor shall encumber the excess surplus for
specified purposes or transfer the funds within 3 fiscal years. The
bill would provide that if the housing successor fails to comply with
this subdivision, the housing successor, within 90 days of the end
of the 3rd fiscal year, shall transfer any excess surplus to the
Department of Housing and Community Development for expenditure
pursuant to the Multifamily Housing Program or the Joe Serna, Jr.
Farmworker Housing Grant Program.
   (6) Existing law requires a former redevelopment agency, for each
interest in real property acquired using moneys from the Low and
Moderate Income Housing Fund, to, within 5 years from the date it
first acquires the property interest for the development of housing
affordable to persons and families of low- and moderate-income,
initiate activities consistent with the development of the property
for that purpose. Existing law provides that in the event that
physical development of the property for this purpose has not begun
by the end of a specified time period, or if the former redevelopment
agency does not comply with this requirement, the property shall be
sold and the moneys from the sale, less reimbursement to the agency
for the cost of the sale, shall be deposited in the Low and Moderate
Income Housing Fund.
   This bill would provide that these provisions shall not apply to
interests in real property acquired on or after February 1, 2012, and
that with respect to interests in real property acquired by the
former redevelopment agency prior to February 1, 2012, the specified
time periods shall be deemed to have commenced on the date that the
Department of Finance approved the property as a housing asset.
   (7) Existing law requires every former redevelopment agency to
submit the final report of any audit undertaken and an annual report
to its legislative body, as specified. Existing law also requires the
Controller to compile and publish annually reports of the financial
transactions of each former community redevelopment agency, to make
the data available to the Legislature and its agents upon request,
and to publish this information for each project area of each
redevelopment agency.
   This bill would provide that these provisions shall not apply to
and, instead, would require the housing successor to conduct and
provide to its governing body an independent financial audit of the
Low and Moderate Income Asset Fund. It would also require the housing
successor to post specified information on its Internet Web site.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 34176 of the Health and Safety Code is amended
to read:
   34176.  (a) (1) The city, county, or city and county that
authorized the creation of a redevelopment agency may elect to retain
the housing assets and functions previously performed by the
redevelopment agency. If a city, county, or city and county elects to
retain the authority to perform housing functions previously
performed by a redevelopment agency, all rights, powers, duties,
obligations, and housing assets, as defined in subdivision (e),
excluding any amounts on deposit in the Low and Moderate Income
Housing Fund and enforceable obligations retained by the successor
agency, shall be transferred to the city, county, or city and county.

   (2) The  entity assuming the housing functions of the
former redevelopment agency   housing successor 
shall submit to the Department of Finance by August 1, 2012, a list
of all housing assets that contains an explanation of how the assets
meet the criteria specified in subdivision (e). The Department of
Finance shall prescribe the format for the submission of the list.
The list shall include assets transferred between February 1, 2012,
and the date upon which the list is created. The department shall
have up to 30 days from the date of receipt of the list to object to
any of the assets or transfers of assets identified on the list. If
the Department of Finance objects to assets on the list, the 
entity assuming the housing functions of the former redevelopment
agency   housing successor  may request a meet and
confer process within five business days of receiving the department
objection. If the transferred asset is deemed not to be a housing
asset as defined in subdivision (e), it shall be returned to the
successor agency and the provision of Section 34178.8 may apply. If a
housing asset has been previously pledged to pay for bonded
indebtedness, the successor agency shall maintain control of the
asset in order to pay for the bond debt.
   (b) If a city, county, or city and county does not elect to retain
the responsibility for performing housing functions previously
performed by a redevelopment agency, all rights, powers, assets,
duties, and obligations associated with the housing activities of the
agency, excluding enforceable obligations retained by the successor
agency and any amounts in the Low and Moderate Income Housing Fund,
shall be transferred as follows:
   (1) If there is no local housing authority in the territorial
jurisdiction of the former redevelopment agency, to the Department of
Housing and Community Development.
   (2) If there is one local housing authority in the territorial
jurisdiction of the former redevelopment agency, to that local
housing authority.
   (3) If there is more than one local housing authority in the
territorial jurisdiction of the former redevelopment agency, to the
local housing authority selected by the city, county, or city and
county that authorized the creation of the redevelopment agency.
   (c) Commencing on the operative date of this part, the 
entity that assumes the housing functions formerly performed by the
redevelopment agency and receives the transferred housing assets
  housing successor  may enforce affordability
covenants and perform related activities pursuant to applicable
provisions of the Community Redevelopment Law (Part 1 (commencing
with Section 33000)), including, but not limited to, Section 33418.
   (d) Except as specifically provided in Section 34191.4, any funds
transferred to the  city, county, or city and county or
designated entity pursuant to this section   housing
successor  , together with any funds generated from housing
assets, as defined in subdivision (e), shall be maintained in a
separate Low and Moderate Income Housing Asset Fund which is hereby
created in the accounts of the entity assuming the housing
functions pursuant to this section. Funds in this account shall be
used in accordance with applicable housing-related provisions of the
Community Redevelopment Law (Part 1 (commencing with Section 33000))
  housing successor  .
   (e) For purposes of this part, "housing asset" includes all of the
following:
   (1) Any real property, interest in, or restriction on the use of
real property, whether improved or not, and 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.
   (2) Any funds that are encumbered by an enforceable obligation to
build or acquire low- and moderate-income housing, as defined by the
Community Redevelopment Law (Part 1 (commencing with Section 33000))
unless required in the bond covenants to be used for repayment
purposes of the bond.
   (3) Any loan or grant receivable, funded from the Low and Moderate
Income Housing Fund, from homebuyers, homeowners, nonprofit or
for-profit developers, and other parties that require occupancy by
persons of low or moderate income as defined by the Community
Redevelopment Law (Part 1 (commencing with Section 33000)).
   (4) Any funds derived from rents or operation of properties
acquired for low- and moderate-income housing purposes by other
parties that were financed with any source of funds, including
residual receipt payments from developers, conditional grant
repayments, cost savings and proceeds from refinancing, and principal
and interest payments from homebuyers subject to enforceable income
limits.
   (5) A stream of rents or other payments from housing tenants or
operators of low- and moderate-income housing financed with any
source of funds that are used to maintain, operate, and enforce the
affordability of housing or for enforceable obligations associated
with low- and moderate-income housing.
   (6) (A) Repayments of loans or deferrals owed to the Low and
Moderate Income Housing Fund pursuant to subparagraph (G) of
paragraph (1) of subdivision (d) of Section 34171, which shall be
used consistent with the affordable housing requirements in the
Community Redevelopment Law (Part 1 (commencing with Section 33000)).

   (B) Loan or deferral repayments shall not be made prior to the
2013-14 fiscal year. Beginning in the 2013-14 fiscal year, the
maximum repayment amount authorized each fiscal year for repayments
made pursuant to this paragraph and subdivision (b) of Section
34191.4 combined shall be equal to one-half of the increase between
the amount distributed to taxing entities pursuant to paragraph (4)
of subdivision (a) of Section 34183 in that fiscal year and the
amount distributed to taxing entities pursuant to that paragraph in
the 2012-13 base year. Loan or deferral repayments made pursuant to
this paragraph shall take priority over amounts to be repaid pursuant
to subdivision (b) of Section 34191.4.
   (f) If a development includes both low- and moderate-income
housing that meets the definition of a housing asset under
subdivision (e) and other types of property use, including, but not
limited to, commercial use, governmental use, open space, and parks,
the oversight board shall consider the overall value to the community
as well as the benefit to taxing entities of keeping the entire
development intact or dividing the title and control over the
property between the housing successor and the successor agency or
other public or private agencies. The disposition of those assets may
be accomplished by a revenue-sharing arrangement as approved by the
oversight board on behalf of the affected taxing entities.
   (g) (1) (A) The  entity assuming the housing functions
pursuant to this section   housing successor  may
designate the use of and commit indebtedness obligation proceeds that
remain after the satisfaction of enforceable obligations that have
been approved in a Recognized Obligation Payment Schedule and that
are consistent with the indebtedness obligation covenants. The
proceeds shall be derived from indebtedness obligations that were
issued for the purposes of affordable housing prior to January 1,
2011, and were backed by the Low and Moderate Income Housing Fund.
Enforceable obligations may be satisfied by the creation of reserves
for the projects that are the subject of the enforceable obligation
that are consistent with the contractual obligations for those
projects, or by expending funds to complete the projects.
   (B) The  entity assuming the housing functions pursuant to
this section   housing successor  shall provide
notice to the successor agency of any designations of use or
commitments of funds specified in subparagraph (A) that it wishes to
make at least 20 days before the deadline for submission of the
Recognized Obligation Payment Schedule to the oversight board.
Commitments and designations shall not be valid and binding on any
party until they are included in an approved and valid Recognized
Obligation Payment Schedule. The review of these designations and
commitments by the successor agency, oversight board, and Department
of Finance shall be limited to a determination that the designations
and commitments are consistent with bond covenants and that there are
sufficient funds available.
   (2) Funds shall be used and committed in a manner consistent with
the purposes of the Low and Moderate Income Housing Asset Fund.
Notwithstanding any other law, the successor agency shall retain and
expend the excess housing obligation proceeds at the discretion of
the  succeeding housing entity   housing
successor  , provided that the successor agency ensures that the
proceeds are expended in a manner consistent with the indebtedness
obligation covenants and with any requirements relating to the tax
status of those obligations. The amount expended shall not exceed the
amount of indebtedness obligation proceeds available and such
expenditure shall constitute the creation of excess housing proceeds
expenditures to be paid from the excess proceeds. Excess housing
proceeds expenditures shall be listed separately on the Recognized
Obligation Payment Schedule submitted by the successor agency.
   (h)  Subdivisions (d) and (e) of Section 33334.3 and any
other applicable sections of the Community Redevelopment Law shall
apply for purposes of funding administrative and planning costs
associated with the implementation of this section. For this purpose,
the term "Low and Moderate Income Housing Fund" shall mean the "Low
and Moderate Income Housing Asset Fund."  This section shall
not be construed to provide any stream of tax increment financing.
  SEC. 2.  Section 34176.1 is added to the Health and Safety Code, to
read:
   34176.1.  Funds in the Low and Moderate Income Housing Asset Fund
described in subdivision (d) of Section 34176 shall be subject to the
provisions of the Community Redevelopment Law (Part 1 (commencing
with Section 33000)) relating to the Low and Moderate Income Housing
Fund, except as follows:
   (a) Subdivision (d) of Section 33334.3 and subdivision (a) of
Section 33334.4 shall not apply. Instead, funds received from the
successor agency for items listed on the Recognized Obligation
Payment Schedule shall be expended to meet the enforceable
obligations, and the housing successor shall expend all other funds
in the Low and Moderate Income Housing Asset Fund as follows:
   (1) For the purpose of 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 for the purpose of administering the activities
described in paragraphs (2) and (3), a housing successor may expend
per fiscal year up to an amount equal to 2 percent of the purchase
price of real property owned by the housing successor and of loans
and grants receivable, including real property and loans and grants
transferred to the housing successor pursuant to Section 34176 and
real property purchased and loans and grants made by the housing
successor. If this amount is less than one hundred thousand dollars
($100,000) for any given fiscal year, the housing successor may
expend up to one hundred thousand dollars ($100,000) in that fiscal
year for these purposes.
   (2) Notwithstanding Section 33334.2, if the housing successor has
fulfilled all obligations pursuant to Sections 33413 and 33418, the
housing successor may expend up to two hundred fifty thousand dollars
($250,000) per fiscal year for homeless prevention and rapid
rehousing services for individuals and families who are homeless or
would be homeless but for this assistance, including the provision of
short-term or medium-term rental assistance, housing relocation and
stabilization services including housing search, mediation, or
outreach to property owners, credit repair, security or utility
deposits, utility payments, rental assistance for a final month at a
location, moving cost assistance, and case management, or other
appropriate activities for homelessness prevention and rapid
rehousing of persons who have become homeless.
   (3) (A) The housing successor shall expend all funds remaining in
the Low and Moderate Income Housing Asset Fund after the expenditures
allowed pursuant to paragraphs (1) and (2) for the development of
housing affordable to and occupied by households earning 80 percent
or less of the area median income, with at least 30 percent of these
remaining funds expended for the development of rental housing
affordable to and occupied by households earning 30 percent or less
of the area median income and no more than 20 percent of these
remaining funds expended for the development of housing affordable to
and occupied by households earning between 60 percent and 80 percent
of the area median income.
   (B) A housing successor shall demonstrate in the annual report
described in subdivision (f) for year 2019, and every five years
thereafter, that the housing successor's expenditures from January 1,
2014, through the end of the latest fiscal year covered in the
report comply with this program. If the housing successor fails to
comply with the extremely low-income requirement in any five-year
report, then the housing successor shall ensure that at least 50
percent of these remaining funds expended in each fiscal year
following the latest fiscal year following the report are expended
for the development of rental housing affordable to, and occupied by,
households earning 30 percent or less of the area median income
until the housing successor demonstrates compliance with the
extremely low income requirement in an annual report described in
subdivision (f).
   (C) If the housing successor exceeds the expenditure limit for
households earning between 60 percent and 80 percent of the area
median income in any five-year report, the housing successor shall
not expend any of the remaining funds for households earning between
60 percent and 80 percent of the area median income until the housing
successor demonstrates compliance with this limit in an annual
report described in subdivision (f).
   (D) For purposes of this subdivision, "development" means new
construction, acquisition and rehabilitation, substantial
rehabilitation as defined in Section 33413, the acquisition of
long-term affordability covenants on multifamily units as described
in Section 33413, or the preservation of an assisted housing
development that is eligible for prepayment or termination or for
which within the expiration of rental restrictions is scheduled to
occur within five years as those terms are defined in Section
65863.10 of the Government Code. Units described in to this
subparagraph may be counted towards any outstanding obligations
pursuant to Section 33413, provided that the units meet the
requirements of that section and are counted as provided in that
section.
   (b) Subdivision (b) of Section 33334.4 shall not apply. Instead,
if the aggregate number 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 exceeds 50 percent of 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, then the housing successor shall not expend these funds to
assist additional senior housing units until the housing successor or
its host jurisdiction assists, and construction has commenced, a
number of units available to all persons, regardless of age, that is
equal to 50 percent of the aggregate number of units of
deed-restricted rental housing units assisted individually or jointly
by the housing successor, its former redevelopment agency, and its
host jurisdiction within the time period described above.
   (c) (1) Program income a housing successor receives shall not be
associated with a project area and, notwithstanding subdivision (g)
of Section 33334.2, may be expended anywhere within the jurisdiction
of the housing successor or transferred pursuant to paragraph (2)
without a finding of benefit to a project area. For purposes of this
paragraph, "program income" means the sources described in paragraphs
(3), (4), and (5) of subdivision (e) of Section 34176 and interest
earned on deposits in the account.
   (2) Two or more housing successors within a county, within a
single metropolitan statistical area, within 15 miles of each other,
or that are in contiguous jurisdictions may enter into an agreement
to transfer funds among their respective Low and Moderate Income
Housing Asset Funds for the sole purpose of developing transit
priority projects as defined in subdivisions (a) and (b) of Section
21155 of the Public Resources Code, permanent supportive housing as
defined in paragraph (2) of subdivision (b) of Section 50675.14,
housing for agricultural employees as defined in subdivision (g) of
Section 50517.5, or special needs housing as defined in federal or
state law or regulation if all of the following conditions are met:
   (A) Each participating housing successor has made a finding based
on substantial evidence, after a public hearing, that the agreement
to transfer funds will not cause or exacerbate racial, ethnic, or
economic segregation.
   (B) The development to be funded shall not be located in a census
tract where more than 50 percent of its population is very low
income, unless the development is within one-half mile of a major
transit stop or high-quality transit corridor as defined in paragraph
(3) of subdivision (b) of Section 21155 of the Public Resources
Code.
   (C) The completed development shall not result in a reduction in
the number of housing units or a reduction in the affordability of
housing units on the site where the development is to be built.
   (D) A transferring housing successor shall not have any
outstanding obligations pursuant to Section 33413.
   (E) No housing successor may transfer more than one million
dollars ($1,000,000) per fiscal year.
   (F) The jurisdictions of the transferring and receiving housing
successors each have an adopted housing element that the Department
of Housing and Community Development has found pursuant to Section
65585 of the Government Code to be in substantial compliance with the
requirements of Article 10.6 (commencing with Section 65580) of
Chapter 3 of Division 1 of Title 7 of the Government Code and have
submitted to the Department of Housing and Community Development the
annual progress report required by Section 65400 of the Government
Code within the preceding 12 months.
   (G) Transferred funds shall only assist rental units affordable
to, and occupied by, households earning 60 percent or less of the
area median income.
   (H) Transferred funds not encumbered within two years shall be
transferred to the Department of Housing and Community Development
for expenditure pursuant to the Multifamily Housing Program or the
Joe Serna, Jr. Farmworker Housing Grant Program.
   (d) Sections 33334.10 and 33334.12 shall not apply. Instead, if a
housing successor has an excess surplus, the housing successor shall
encumber the excess surplus for the purposes described in paragraph
(3) of subdivision (a) or transfer the funds pursuant to paragraph
(2) of subdivision (c) within three fiscal years. If the housing
successor fails to comply with this subdivision, the housing
successor, within 90 days of the end of the third fiscal year, shall
transfer any excess surplus to the Department of Housing and
Community Development for expenditure pursuant to the Multifamily
Housing Program or the Joe Serna, Jr. Farmworker Housing Grant
Program. For purposes of this subdivision, "excess surplus" shall
mean an unencumbered amount in the account that exceeds the greater
of one million dollars ($1,000,000) or the aggregate amount deposited
into the account during the housing successor's preceding four
fiscal years, whichever is greater.
   (e) Section 33334.16 shall not apply to interests in real property
acquired on or after February 1, 2012. With respect to interests in
real property acquired by the former redevelopment agency prior to
February 1, 2012, the time periods described in Section 33334.16
shall be deemed to have commenced on the date that the Department of
Finance approved the property as a housing asset.
   (f) Section 33080.1 of this code and Section 12463.3 of the
Government Code shall not apply. Instead, the housing successor shall
conduct, and shall provide to its governing body, an independent
financial audit of the Low and Moderate Income Asset Fund within six
months after the end of each fiscal year, which may be included in
the independent financial audit of the host jurisdiction. If the
housing successor is a city or county, it shall also include in its
report pursuant to Section 65400 of the Government Code and post on
its Internet Web site all of the following information for the
previous fiscal year. If the housing successor is not a city or
county, it shall also provide to its governing body and post on its
Internet Web site all of the following information for the previous
fiscal year:
   (1) The amount deposited to the Low and Moderate Income Asset
Fund, distinguishing any amounts deposited for items listed on the
Recognized Obligation Payment Schedule from other amounts deposited.
   (2) 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.
   (3) 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),
(C) for homeless prevention and rapid rehousing services for the
development of housing described in paragraph (2) of subdivision (a),
(B) and for the development of housing pursuant to paragraph (3) of
subdivision (a).
   (4) As described in paragraph (1) of subdivision (a), the value of
real property owned by the housing successor, the value of loans and
grants receivable, and the sum of these two values.
   (5) 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.
   (6) 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.
   (7) 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.
   (8) 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 meeting
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.
   (9) The information required by subparagraph (b) of paragraph (3)
of subdivision (a).
   (10) 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.
   (11) 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.