Drayton Pines Inc.

“The affairs of the corporation are managed by the board of commissioners of the housing authority of the city of winston-salem.”

“The 990 return is reviewed by the cfo and director of finance. The information is discussed with the board and copies of all returns are available for their review.”

“The organization has a written conflict of interest policy. That policy is distributed and reviewed with all employees and board members yearly. They are requred to sign that they have received, read and understand the policy. That information is kept in the personnel files.”

“All information governing the authority and its instrumentalities are available for review at the housing authority. Those documents are also included in our annual plan that is posted on hud's website annually.”

“Utilities: program service expenses 12,477. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,477. Materials costs: program service expenses 4,902. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,902. Bad debt expense: program service expenses 2,447. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,447.”

“During 2017, drayton pines executed a promissory note with wells fargo bank in the amount of $1,290,556. The loan carries an interest rate of 4.62%. The loan is secured by a deed of trust and matures on october 10, 2022. Monthly payments of $8,665.34 are due beginning november 10, 2017. Only $1,247,276 of these funds have been received as of september 30, 2020.”

“During 2017, drayton pines executed a promissory note with the city of winston-salem in the amount of $500,000. The loan carries an interest rate of 2.0%. The loan is deferred at no interest through the first ten years after the construction completion. The loan is due in full forty years after the construction completion date. The entire loan has been received as of september 30, 2020.”

“During 2017, drayton pines executed a promissory note with the housing authority of winston-salem in the amount of $312,000. The loan carries an interest rate of 0.0%. The loan is due at the earliest of (1) november 5, 2035, (2) the sale, conveyance or refinancing of the property, or (3) 18 years after project completion. The entire loan has been received as of september 30, 2020.”

“During 2017, drayton pines executed a promissory note with bb&t bank in the amount of $240,000. The loan carries an interest rate of 5.540%. The loan is secured by a deed of trust and matures on september 27, 2028. Monthly payments of $1,667.41 are due beginning october 27, 2018. Only $222,057 of these funds have been received as of september 30, 2020.”