Notes to SEFA
During the year ended December 31, 2025, the Project did not provide any funds relating to their federal programs to subrecipients.
The Project has a HUD insured mortgage with Midland States Bank under the Section 223(f) of the National Housing Act. The mortgage balance at the beginning of the year is included in the federal expenditures presented in the Schedule. The Project received no additional loans during the year. The balance of the outstanding insured mortgage at December 31, 2025 is $411,030.