Notes to SEFA
On July 9, 2020, Urban Partnerships Community Development Corporation executed a promissory note with Harris County in the original amount of $13,571,654. There were draws in the amount of $0 on the note during 2024. As of December 31, 2024, the outstanding promissory note balance was $12,811,099, secured by a second lien on land, fixture filing, and second assignment of leases and rents. On June 30, 2021, Urban Partnerships Community Development Corporation executed a promissory note with the City of Houston in the original amount of $19,619,640. There were draws in the amount of $1,961,964 on the note during 2024. As of December 31, 2024, the outstanding promissory note balance was $19,619,640, secured by a Deed of Trust. As of December 31, 2024, no interest is payable.