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Notes Receivable

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Notes Receivable

3. Notes Receivable

The following table summarizes our notes receivables at December 31, 2022 and 2021:

		Carrying Value								Interest			Maturity
Borrower / Project		2022				2021				Rate			Date
United Housing Foundation (Echo Station)		$	1,481			$	1,481			12.00	%		12/31/2032
United Housing Foundation (Lakeshore Villas)			2,000				2,000			12.00	%		12/31/2032
United Housing Foundation (Lakeshore Villas)			6,369				6,369			12.00	%		12/31/2032
United Housing Foundation (Timbers of Terrell)			1,323				1,323			12.00	%		12/31/2032
		$	11,173			$	11,173

The borrower is determined to be a related party due to our significant investment in the performance of the collateral secured by the notes receivable. Principal and interest payments on the notes from Unified Housing Foundation, Inc. (“UHF”) are funded from surplus cash flow from operations, sale or refinancing of the underlying properties and are cross collateralized to the extent that any surplus cash available from any of the properties underlying the notes.

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- Definition

The entire disclosure for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-URI https://asc.fasb.org/subtopic&trid=2196772

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-URI https://asc.fasb.org/subtopic&trid=2196816

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- References

No definition available.

+ Details

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