Notes to SEFA
For the year ended September 30, 2025, there were no awards passed through to subrecipients.
Under the HUD Section 202 Capital Advance Mortgage Note (the Note), Swan Manor Addition received an advance for the construction of the Project. The Note bears no interest and is not required to be repaid as long as the housing remains available to eligible households through November 22, 2034. At September 30, 2025, $3,572,100 is outstanding.