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OTHER ASSETS | 12 Months Ended
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Dec. 31, 2021
OTHER ASSETS |
OTHER ASSETS | NOTE 4. PREPAID EXPENSES and OTHER ASSETS Approximately $3,067,000 and $2,830,000 of security deposits are included in prepaid expenses and other assets at December 31, 2021 and 2020, respectively. The security deposits and escrow accounts are restricted cash. Included in prepaid expenses and other assets at December 31, 2021 and 2020 is approximately $1,819,000 and $1,073,000, respectively, held in escrow to fund future capital improvements. Intangible assets on the acquisition of Mill Street Apartments is included in prepaid expenses and other assets. Intangible assets are approximately $26,000 net of accumulated amortization of approximately $1,392,000 and approximately $51,000 net of accumulated amortization of approximately $1,367,000 at December 31, 2021 and 2020, respectively. Financing fees in association with the refinancing and the line of credit of approximately $169,000 and $42,000 are net of accumulated amortization of approximately $10,000 and $6,000 at December 31, 2021 and 2020 respectively.

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