THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2017 and 2016 __________
NOTE 8 - NOTES AND CONSTRUCTION LOANS PAYABLE
2017 Note
2016 Note
2017 Accrued 2016 Accrued
Maturity
Interest
Affiliated Entity
Balance
Balance
Interest
Interest
Date
Rate
Lenders
Prudential Insurance Company of America Prudential Insurance Company of America
NHPF
$
2,112,500
$
2,500,000
$
56,250
$
30,125
11/1/2023
4.500%
[7]
NHPF NHPF NHPF NHPF NHPF NHPF NHPF NHPF
2,500,000
-
19,167
- - - - - - - -
11/1/2023 3/6/2017 2/8/2019 7/19/2018 6/18/2018 8/31/2019
3.000% 1.000% 3.810% 6.500% 6.000% 5.750% 6.000% 6.000% 5.000% variable 6.000% 6.000% 2.700% 2.400%
[7] [5]
-
1,000,000
-
The Ford Foundation
8,789,659
- - - - - -
29,302
PNC Bank
[14]
325,000 500,000
8,801 2,375
National Housing Trust
Community Capital
1,428,000
33,528
National Housing Trust
100,000
5,450
1/1/2019
Corporation for Supportive Housing Local Initiatives Support Corporation
1,201,450
11,147 27,494
12/1/2018 8/10/2018 8/31/2018 8/31/2018 3/29/2016 12/1/2054 12/1/2054
Alexander Alexander Alexander
349,250
335,000
10,528
Falls Church
[1] [9]
4,800,000
4,800,000
- -
- -
Enterprise Community Loan Fund Inc Enterprise Community Loan Fund Inc Local Initiatives Support Corporation
900,000
900,000
Anacostia Gardens
2,400,000
2,400,000
12,000 66,925 251,613
12,800 52,020 257,161
[8]
Bayview Preservation - HTCC Loan Bayview Preservation - Seller Loan
500,000
500,000
Bayview Bayview
[1], [15] [1], [15]
10,332,544
10,531,817
Department of Housing and Community Development U.S. Department of Housing and Urban Development
Benning
-
290,580
-
-
N/A
0.000%
Benning
-
3,128,829
-
66,177
6/30/2030 1/1/2049 1/1/2049 1/1/2049 2/8/2019
2.000% 2.750% 3.622% 3.000% 3.630% 3.250% 2.990% 2.990% 6.000% 1.000% 1.000% 4.240% 4.150% 5.790% 3.280% 0.000% 5.750% 3.530% 3.140% 1.250% 3.140% 1.250% 1.000% Varies Varies 0.000% 0.000% 4.170% 6.750% 1.000% 1.000% 5.150%
Benning Heights Benning Heights Benning Heights
2,740,408
- - - -
73,799
- - - -
NHPF
[1]
10,436,193 5,012,387 8,789,657 14,933,422 1,200,000 3,000,000
-
Citibank, N.A.
150,372 29,304 41,220
DHCD
Bolton North
[12], [1], [14] NHPF
Cleme Cleme
11,611,610
31,964
N/A
PNC Bank Jamestown Jamestown NHPF/TPI
-
16,023
-
8/25/2024 8/25/2024
[1], [15] [1], [15]
Cleme- Seller Loan
3,000,000
307,803
218,103
Clipper - NHPF/TPI Loan Forest Park - NHPF Loan Forest Park - Seller Loan
300,000
300,000
740
547
N/A
[6]
1,450,000 1,765,974 12,800,000
1,450,000 2,141,836 12,800,000
149,689
135,189
3/19/2037 3/19/2037 6/30/2046 6/21/2018 12/21/2036 12/31/2055
NHPF Forest
[1], [15] [1], [15] [1], [15]
14,449
12,194
Foxwood
5,888,879
5,128,695
Foxwood
Harvest Homes Harvest Homes
7,746,035
5,281,073
28,340
13,570
JP Morgan Chase JP Morgan Chase
[13]
600,000
1,062
-
Hollybush Preservation - Seller Loan
6,056,295
6,353,857
132,022
135,583
Hollybush
[1], [2]
Dept. of Housing and Community Development
Jamestown
4,200,000 2,339,025 17,800,000
3,000,000
-
- -
8/25/2024
Mark Twain
-
11,208
6/1/2018
NHPF
[1]
Orange Preservation - Seller Loan
17,800,000
3,767,905
3,032,629
12/31/2052
Orange
[1], [3]
Plaza B II
109,190
-
2,527
-
6/1/2046
Plaza Borinquen 88 Owner New York City Housing Development Corporation Plaza Borinquen 88 Owner Plaza Borinquen 88 Owner NHPF and VOV Community Development Corp.
[1], [15]
Plaza B II - HDC Loan
1,920,000
1,919,800
-
-
5/1/2047 6/1/2046 6/1/2046
Plaza B II - Reserve Note
336,256
336,256
38,474
27,063
[1], [15] [1], [15]
Plaza B II - Seller Note Loan
4,250,669
4,250,669
566,862
356,845
Roundtree - Sponsor Loan
603,701
603,701 190,857 642,372
12,279
6,242 1,256 5,599
12/31/2051 3/22/2018 3/22/2018 12/18/2044 12/18/2044 12/18/2044 10/1/2023 3/1/2044 3/1/2044
[4]
Ships Cove Preservation (Loan B) Ships Cove Preservation (Loan C)
1,827,000
- - - -
Citizen Bank Citizen Bank St. Luke's GP
[10] [11]
848,535 562,654 562,654
St. Lukes Preservation
- -
- -
[1] [1]
St. Luke's GP
NHPF
St. Luke's Preservation - Seller Loan
4,815,000 3,700,000 1,045,001
4,815,000 3,700,000 1,045,001
1,871,381
1,603,721
St. Luke's
[1], [15]
Pines at Carolina
-
-
Low Income Investment Fund
Walnut Square - NHPF Loan Walnut Square - NHPF Loan Walnut Square - NHPF Loan
108,854
98,404 56,515 121,272
NHPF NHPF NHPF
[1], [15] [1], [15] [1], [15]
600,000 250,000
600,000 250,000
62,515
134,147
3/1/2027
TCAP - Louisiana Housing and Finance Agency
Walnut Square - TCAP Loan
1,000,000
1,000,000
68,822
58,775
1/1/2051
1.000%
Sub-total
159,838,459
109,478,258
14,002,728
11,472,977
Eliminations
(82,100,391)
(66,655,250)
(13,527,188)
(11,249,255)
Total
77,738,068
42,823,008
$
475,540
$
223,722
Unamortized debt issuance costs
(1,749,032)
(1,359,184)
Accrued interest
475,540
223,722
Balance, Net of Unamortized Debt Issuance Costs
$
76,464,576
$
41,687,546
- 32 -
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