THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2018 and 2017
NOTE 9 - NOTES AND CONSTRUCTION LOANS PAYABLE Notes payable and accrued interest consist of the following:
2018 Note
2017 Note
2018 Accrued
2017 Accrued
Maturity
Interest
Affiliated Entity
Balance
Balance
Interest
Interest
Date
Rate
Lenders
Prudential Insurance Company of America Prudential Insurance Company of America
NHPF
$
1,791,714
$
2,112,500
$
20,157
$
56,250
2023
4.500%
NHPF
2,250,000
2,500,000 8,789,659
17,250
19,167 29,302
2023
3.000%
NHPF-Bolton
-
-
Repaid Repaid Repaid Repaid
3.810% PNC Bank
NHPF-Deanwood NHPF-Calcagno NHPF-Ridgecrest NHPF-Ridgecrest NHPF-Mark Twain NHPF-Woodmont
325,000
325,000 500,000
5,281
8,801 2,375
6.500% National Housing Trust
- -
- -
6.000% Community Capital
1,428,000
33,528
5.750% National Housing Trust 5.750% Capital Impact Partner's
1,628,000
-
23,403
-
At Conversion
- -
100,000
- -
5,450
Repaid Repaid
6.000% Corporation for Supportive Housing 6.000% Local Initiatives Support Corporation
1,201,450
11,147
Alabama Ave. (Roundtree) - Sponsor Loan
NHPF and VOV Community Development Corp.
516,983 514,250 286,841
603,701 349,250
2,696
12,279 27,494
2051
1.000%
Alexander House - Bridge Loan
52,682
At Recapitalization 5.000% Falls Church
Anacostia Gardens
-
6,439
-
At Recapitalization 8.000% NHPF
Bayview Preservation - Seller Loan
10,285,139
10,332,544
169,151
251,613
2054
2.400% Cornerstone/Bayview Inc.
Bayview Preservation - HTCC Loan
500,000
500,000
82,232
66,925 73,799
2054 2049 2019 2049
2.700% Cornerstone/Bayview Inc.
Benning Heights Investor Benning Heights Investor Benning Heights Investor
2,740,408
2,740,408
151,204
2.750% NHPF 5.000% NHPF 2.250% Citibank
14,800
-
284
- -
14,681,192
10,436,193
57,006
District of Columbia Department of Housing and Community Development
Benning Heights Investor Bolton North - Bridge loan Bolton North - Sponsor Loan
5,012,387 8,185,074
5,012,387 8,789,657
298,749 30,388 10,308 400,503
150,372
2049 2023 2035 2024 2024
3.000%
29,304
Varies
PNC Bank
500,000
-
-
2.660% NHPF/UA II, LLC
Cleme Manor - City Loan
3,000,000 1,200,000
3,000,000 1,200,000
307,803
2.990% Jamestown Affordable Housing, Inc. 2.990% Jamestown Affordable Housing, Inc.
Cleme Manor - Owner Loan
52,382
16,023
Clipper Cove Clipper Cove Clipper Cove
-
300,000
-
740
Refinanced
6.000% NHPF/TPI
655,602 983,399
- -
4,799 7,198
- -
At Recapitalization 8.500% TPI At Recapitalization 8.500% NHPF
Forest Park - Seller Loan Forest Park - NHPF Loan
1,438,914 1,450,000 12,800,000
1,765,974 1,450,000 12,800,000
9,684
14,449
2037 2037 2046
1.000% Forest Park Affordable Housing, Inc.
164,189
149,689
1.000% NHPF
Foxwood Preservation - Seller Loan
6,681,287
5,888,879
4.240% Foxwood Affordable Housing, Inc.
Harvest Homes Harvest Homes
-
7,746,035
-
28,340 31,043
Converted
Varies
JP Morgan Chase
184,250
184,250
48,310
2049
8.000% NHPF
Hollybush Preservation - Seller Loan
5,817,528
6,056,295
130,695
132,022
2055
3.280% Hollybush
Dept. of Housing and Community Development
Jamestown
4,200,000
4,200,000 2,339,025
- - -
-
2024
0.000%
New Mark Twain
-
11,208
Refinanced
6.000% The Chicago Community Loan Fund
Mark Twain NHPF Mark Twain NHPF
4,993,584
- - -
- - -
2060 2060 2060
8.000% Chicago Community Loan Fund
18,498,521
22,609
8.000% City of Chicago
Mark Twain NHPF - Sponsor Loan
1,699,090
-
8.000% NHPF
Office of the Deputy Mayor for Planning and Economic Development
Nannie Helen Owner Strand
4,653,975
3,454,886
167,993
- -
2057 2023 2052 2046 2046 2046
3.000%
New Covent
328,004
-
-
8.000% NHPF
Orange Preservation - Seller Loan
17,800,000
17,800,000
4,375,985
3,767,905
3.530% Orange Affordable Housing, Inc.
Plaza B II-Seller Note
4,250,669
4,250,669
645,634 49,881 15,695
566,862
3.140% Plaza B I 3.140% Plaza B I 3.140% Plaza B I
Plaza B II-Reserve Note
336,256 109,190
336,256 109,190
38,474
Plaza B II-Gap Note
2,527
New York City Housing Development Corporation
Plaza B II - HDC 2nd
1,920,000 4,815,000
1,920,000 4,815,000
1,600
-
2046 2044
1.000%
St. Luke's Preservation - Seller Loan St. Luke's Preservation - Promissory Note
2,150,204
1,871,381
4.170% Cornerstone/St. Luke's, Inc.
511,343 511,343
562,654 562,654
- - - -
- - - -
N/A N/A
0.000% St. Luke's GP, Inc.
St. Luke's GP-Promissory Note
0.000% NHPF
Ships Cove Preservation Ships Cove Preservation
- -
1,827,000
Converted Converted
Varies Varies
Citizen Bank Citizen Bank
848,535
District of Columbia Housing Finance Agency
Takoma Place Takoma Place
4,450,000
-
20,194
-
2020 2020
5.270%
13,637,505
13,712,505
354,427
68,563
3.000% DCHD
LIIF Housing Preservation Fund, LLC
Pines at Carolina
3,700,000 9,500,000 1,045,001
3,700,000 8,968,368 1,045,001
20,813
-
2023 2056 2044 2044 2027
6.750%
Wade Road Parkchester
-
27,129
3.760% Citibank 1.000% NHPF 1.000% NHPF
Walnut Square - NHPF Loan Walnut Square - NHPF Loan Walnut Square - NHPF Loan
177,945 102,169
108,854
600,000 250,000
600,000 250,000
62,515
42,570
134,147
5.150% NHPF
TCAP - Louisiana Housing Finance Agency
Walnut Square - TCAP
1,000,000
1,000,000
78,877
68,822
2051
1.000%
Sub-total
175,570,962
162,525,046
16,652,873
14,075,181
Eliminations
(73,720,484)
(82,284,641)
(15,504,609)
(13,527,188)
Total
101,850,478
80,240,405
$
1,148,264
$
547,993
Unamortized debt issuance costs
(1,720,894)
(1,749,032)
Total
100,129,584
78,491,373
Accrued Interest
1,148,264
547,993
Balance, Net of Unamortized Debt Issuance Costs
$
101,277,848
$
79,039,366
- 30 -
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