THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2019 and 2018
NOTE 10 - NOTES AND CONSTRUCTION LOANS PAYABLE Notes payable and accrued interest consist of the following:
2019 Note
2018 Note
2019 Accrued
2018 Accrued
Maturity
Interest
Affiliated Entity
Balance
Balance
Interest
Interest
Date
Rate
Lenders
Prudential Insurance Company of America Prudential Insurance Company of America
NHPF
$
1,187,570
$
1,791,714
$
21,802
$
20,157
2023
4.500%
NHPF
2,250,000 1,000,000
2,250,000
17,250
17,250
2023
3.000%
NHPF-Strand
-
- - -
-
At Conversion
5.400% NHPF
NHPF-Deanwood NHPF-Ridgecrest
- -
325,000
5,281
2019
6.500% National Housing Trust 5.750% Capital Impact Partner's
1,628,000
23,403
At Conversion
NHPF and VOV Community Development Corp.
Alabama Ave. (Roundtree) - Sponsor Loan
510,104 705,830
516,983 514,250 286,841
2,449
2,696
2051
1.000%
Alexander House - Bridge Loan
102,878
52,682
At Recapitalization 5.000% Falls Church
Anacostia Gardens Anacostia Gardens
-
-
6,439
Repaid
8.000% NHPF
367,575
-
12,218
-
2020 2054 2054 2049 2020
8.000% Falls Church
Bayview Preservation - Seller Loan Bayview Preservation - HTCC Loan
10,238,570
10,285,139
123,872
169,151
2.400% Cornerstone/Bayview Inc. 2.700% Cornerstone/Bayview Inc.
500,000
500,000
97,539
82,232
Benning Heights Investor Benning Heights Investor Benning Heights Investor
2,740,408
2,740,408
230,737
151,204
2.750% NHPF 5.000% NHPF 2.250% Citibank
- -
14,800
- -
284
14,681,192
57,006
Converted 9/17/19
District of Columbia Department of Housing and Community Development
Benning Heights Investor
- -
5,012,387 8,185,074
- -
298,749 30,387 10,308
2049
3.000%
PNC Bank
Bolton - Bridge loan
Repaid
Varies
Bolton - Sponsor Loan
500,000
500,000
23,608
2035
2.660% NHPF/UA II, LLC
Cleme - City Loan
3,000,000
3,000,000
422,881
400,503
2024
2.990% Jamestown Affordable Housing, Inc.
Cleme - Owner Loan
1,260,000
1,200,000
70,322
52,382
2024
2.990% Jamestown Affordable Housing, Inc.
Clipper Clipper
570,534 855,801
655,602 983,399
4,041 6,062
4,799 7,198
At Recapitalization 8.500% TPI At Recapitalization 8.500% NHPF
Forest Park - Seller Loan Forest Park - NHPF Loan
940,978
1,438,914 1,450,000
3,177
9,684
2037 2037
1.000% Forest Park Affordable Housing, Inc.
1,450,000
178,689
164,189
1.000% NHPF
Foxwood Preservation - Seller Loan
12,800,000
12,800,000
7,507,293
6,681,287
2046 2049 2055
4.240% Foxwood Affordable Housing, Inc.
Harvest Home
184,250
184,250
66,915
48,310
8.000% NHPF
Hollybush Preservation - Seller Loan
5,622,390
5,817,528
108,122
130,695
3.280% Hollybush
Dept. of Housing and Community Development
Jamestown
4,260,000
4,200,000 4,993,284 18,498,521
- - -
- -
2024
0.000%
Mark Twain Mark Twain
- -
Assigned
8.000% City of Chicago 8.000% City of Chicago
22,609
Repaid
Mark Twain NHPF, LLC Mark Twain NHPF, LLC
27,325,000 4,805,136 1,614,337
- -
50,096 71,549 130,854
- - - - -
2060 2060 2060 2060 2060
4.400% The Huntington National Bank
8.000% City of Chicago
Mark Twain NHPF LLC - Sponsor Loan
1,699,390
8.000% NHPF 0.000% ComEd
Mark Twain NHPF LLC - ComEd
74,446
- -
-
Mark Twain NHPF LLC -
2,565,584
13,256
6.000% Chicago Community Loan Fund
Office of the Deputy Mayor for Planning and Economic Development
Nannie Helen Owner LLC (The Strand ) Nannie Helen Owner LLC (The Strand ) Nannie Helen Owner LLC (The Strand ) Nannie Helen Owner LLC (The Strand )
8,495,366
4,653,975
118,598
167,994
2057 2039 2039
3.000%
19,500,000
- - -
1,037
- - - -
1.450% DCHFA 3.959% Citibank 5.400% NHPF 8.000% NHPF
304,420 322,388
-
940
At Conversion
New Covent LLC
-
328,004
-
2023 2052 2046 2046 2046 2046 2024 2044 N/A N/A
Orange Preservation - Seller Loan
17,800,000
17,800,000
4,684,996
4,375,985
3.530% Orange Affordable Housing, Inc. 3.140% Plaza Borinquen 88 Owner L.P. 3.140% Plaza Borinquen 88 Owner L.P. 3.140% Plaza Borinquen 88 Owner L.P.
Plaza B II-Seller Note
4,250,669
4,250,669
787,254 61,289 15,800
645,634 49,881 15,695
Plaza B II-Reserve Note
336,256 109,190
336,256 109,190
Plaza B II-Gap Note
New York City Housing Development Corporation
Plaza B II - HDC 2nd
1,920,000 2,525,000 4,815,000 1,111,865 1,111,865
1,920,000
1,495
1,600
1.000%
Ridgecrest Court
-
311,724
-
4.610% Parklands, Inc.
St. Luke's Preservation - Seller Loan
4,815,000
2,440,653
2,150,204
4.170% Cornerstone/St. Luke's, Inc.
St. Luke's GP-Promissory Note
511,343 511,343
66,136
- -
0.000% NHPF
St. Luke's Preservation
-
0.000% St. Lukes GP
District of Columbia Housing Finance Agency
Takoma
16,570,000
4,450,000
72,770
20,194
2020
5.270%
District of Columbia Department of Housing and Community Development
Takoma Takoma
-
13,637,505
-
354,427
2057 2020
3.000%
34,800
-
1,559
-
8.000% Falls Church
LIIF Housing Preservation Fund, LLC
The Pines Owner
3,700,000
3,700,000 9,500,000 1,045,001
20,813
20,813
2023 2056 2044 2044 2027
6.750%
Wade Road Investor, LLC (Parkchester)
-
-
-
3.760% Citibank 1.000% NHPF 1.000% NHPF
Walnut Square - NHPF Loan Walnut Square - NHPF Loan Walnut Square - NHPF Loan
1,045,001
120,800
177,945 102,169
600,000 250,000
600,000 250,000
69,374
157,755
42,570
5.150% NHPF
TCAP - Louisiana Housing and Finance Agency
Walnut Square - TCAP
1,000,000
1,000,000
84,341
78,877
2051
1.000%
Sub-total
173,130,333
175,570,962
18,282,944
16,652,873
Eliminations
(73,427,367)
(73,720,484)
(17,480,194)
(15,504,609)
Total
99,702,967
101,850,478
$
802,750
$
1,148,264
Unamortized debt issuance costs
(598,187)
(1,720,894)
Total
99,104,780
100,129,584
Accrued Interest
802,750
1,148,264
Balance, Net of Unamortized Debt Issuance Costs
$
99,907,530
$
101,277,848
- 32 -
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