Notes to SEFA
Greeley Senior Housing Corporation has received a capital advance under Section 202 of the National Housing Act. The grant has no provision for interest and repayment is not required so long as the housing remains available for very low-income elderly persons or very low-income persons with disabilities. The agreement shall remain in effect for not less than 40 years (maturing August 1, 2035), unless otherwise approved by HUD. The advance balance of $2,350,700 as of October 1, 2024 is included in the federal expenditures presented in the schedule of expenditures of federal awards. The Organization received no additional loans during the year. The advance balance as of September 30, 2025 is $2,350,700.