Fiscal Year 2022 Annual Report of the City of Vacaville

The City elected to retain the housing assets and affordable housing functions of the former redevelopment agency, as the housing successor, subject to the affordable housing-related provisions of California Redevelopment Law (CRL) in January 2012. On October 13, 2013, the Governor approved Senate Bill 341 (SB 341) which amended provisions of the CRL relating to the functions to be performed by the housing successor and required new annual reporting. SB 341 went into effect on January 1, 2014. In September 2014, AB 1793 was approved by the Governor, amending SB 341 to add additional annually reporting requirements for homeownership units.

SB 341 and AB 1793 changed the former annual reporting requirements of redevelopment agencies previously provided to both the State Controller’s Office (SCO) and the State Department of Housing and Community Development (HCD). The requirement to report annually to the SCO has been eliminated. By December 31st each year, housing successors are now required to provide an independent financial audit to its governing body within six months after the end of each fiscal year; report specified housing financial and activity information as an addendum to the Annual Housing Element Progress Report submitted to HCD; and post specific information on the housing successor’s website.

The report contains all of the information required by SB 341 and AB 1793. 

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