Notes to SEFA
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of TG 306, Inc., HUD Project No. TX590025016, under programs of the federal government for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of TG 306, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of TG 306, Inc. For the year ended December 31, 2025, no awards were passed through to subrecipients.
The Mark-to-Market program consists of a mortgage restructuring note and a contingent repayment note. The following schedules reconcile expenditures per the Schedule to the other mortgages payable reported in the financial statements at December 31, 2025. Federal Assistance Listing Number Program Name Outstanding Loan Balance at December 31, 2025 14.197 HUD Multi-family Assisted Housing Reform & Affordability Act mark-to-market program, mortgage restructuring note $ 775,524 Less: Discount (294,300) Estimated net present value of the note payable $ 481,224
The Corporation has received a U.S. Department of Housing and Urban Development pass-through loan from the HOME Investment Partnership Program. The loan balance outstanding at the end of the year is included in the federal expenditure presented in the above Schedule. The Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: Federal Assistance Listing Number Program Name Outstanding Loan Balance at December 31, 2025 14.239 HOME Investment Partnerships Program (TDHCA) $ 1,774,375