Notes to SEFA
The Peninsula Housing Authority has received Rural Rental Housing Loans associated with two separate properties – Peninsula Apartments and Wildwood Apartments. Both receive a monthly interest subsidy. The property loans are combined by property but listed separately by property on the SEFA with loan balances reported as beginning year balances. Detail of the loans can be found in the accompanying notes to the financial statements. Peninsula Apartments Outstanding Debt 6/30/2025 – $729,871 Wildwood Apartments Outstanding Debt 6/30/2025 – $1,239,373 Shop funds are required to report all loans, both at year’s beginning and year’s end, with continued federal compliance. Any difference in beginning year (debt liability balance) and end year (total balance) is the receipt of new loans received in current year. The full balance is subject to continuing compliance until each such loan is converted to a grant or until maturity. The balance of the loans at 6/30/2025 is $300,000.
As required by the granting agency, the amounts shown on the schedule for the Housing Choice Voucher Program (CFDA 14.871) represent amounts awarded to the Authority. Actual expenditures of the grant during the period were $6,499,973. Emergency Housing Voucher HAP expenditures were $142,980.