2025-08-11T06:38:09-05:00 2024-09-30 333709623 COHNREZNICK ADVISORY LLC 3560 LENOX ROAD NE SUITE 2900 ATLANTA GA 30326 990 2023-10-01 814265588 DRAYTON PINES INC DRAY 3367278500 500 WEST FOURTH STREET SUITE 300 WINSTONSALEM NC 27101 KEVIN CHESHIRE EXECUTIVE DIRECTOR 3367278500 2025-08-01 1 1 ANDREW P SMITH P01281742 4048479447 2025-07-31 2023 2025-03-06 01:10:19Z KEVIN CHESHIRE 500 W FOURTH STREET WINSTONSALEM NC 27101 477082 0 X N/A X 2017 NC SEE SCHEDULE OTO FACILITATE THE ORGANIZATION AND ADMINISTRATION OF INNOVATIVE PROJECTS TO PROVIDE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME AND IMPROVE THEIR QUALITY OF LIFE. 9 9 0 0 0 0 0 0 367630 477082 26 0 0 0 367656 477082 0 0 0 0 0 0 0 0 0 376010 406730 376010 406730 -8354 70352 2927109 2941956 2313469 2257964 613640 683992 IN CONJUNCTION WITH THE HOUSING AUTHORITY OF WINSTON-SALEM, TO FACILITATE THE ORGANIZATION AND ADMINISTRATION OF INNOVATIVE PROJECTS TO PROVIDE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME AND IMPROVE THEIR QUALITY OF LIFE. 0 0 406730 477082 TO PROVIDE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME AND IMPROVE THEIR QUALITY OF LIFE. 406730 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X MS NANCY THOMAS 3367278500 500 WEST FOURTH STREET SUITE 300 WINSTONSALEM NC 27101 ALFRED ADAMS DIRECTOR 2.00 X 0 0 0 ANDREW PERKINS CHAIR 2.00 X 0 0 0 BETSY ANNESE VICE CHAIR 2.00 X 0 0 0 WILLIAM ROSE DIRECTOR 2.00 X 0 0 0 ART GIBEL DIRECTOR 2.00 X 0 0 0 KATHY STITTS DIRECTOR 2.00 X 0 0 0 ARTHUR DARK DIRECTOR 2.00 X 0 0 0 FELICIA BRINSON DIRECTOR 2.00 X 0 0 0 VIVIAN PEREZ CHANDLER DIRECTOR 2.00 X 0 0 0 KEVIN CHESHIRE SECRETARY/TREASURER 2.00 40.00 X 0 235236 46419 0 235236 46419 0 0 1 0 0 RENTAL INCOME 531120 477082 477082 477082 477082 477082 0 0 34720 34720 4585 4585 1076 1076 9166 9166 60877 60877 79543 79543 24659 24659 HAWS EMPLOYEE SALARIES 67248 67248 CONTRACT COSTS 53148 53148 HAWS EMPLOYEE BENEFITS 23994 23994 MATERIALS COSTS 22702 22702 25012 25012 406730 406730 0 0 157611 256609 3391 986 7839 5638 5327080 2663325 2743300 2663755 14968 14968 2927109 2941956 5924 3451 939 939 2202841 2148287 103765 105287 2313469 2257964 X 613640 683992 613640 683992 2927109 2941956 70352 0 X 0 0 0 X X 1 HAWS 566003102 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 5327080 2663325 2663755 2663755 ACCRUED EXPENSES 105287 105287 0 0 0 0 0 0 0 0 0 KEVIN CHESHIRE SECRETARY/TREASURER 0 235236 0 0 0 0 0 0 0 46419 0 281655 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE AFFAIRS OF THE CORPORATION ARE MANAGED BY THE BOARD OF COMMISSIONERS OF THE HOUSING AUTHORITY OF THE CITY OF WINSTON-SALEM. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION C, LINE 19 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. FORM 990, PART X, LINE 23 DURING 2017, DRAYTON PINES, INC. EXECUTED A PROMISSORY NOTE WITH WELLS FARGO BANK IN THE AMOUNT OF $1,348,000. THE LOAN CARRIES AN INTEREST RATE OF 4.62%. THE LOAN IS SECURED BY A DEED OF TRUST AND MATURED ON OCTOBER 10, 2022. MANAGEMENT REFINANCED THE LOAN WITH PIEDMONT FEDERAL SAVINGS BANK AND THE NEW LOAN CARRIES AN INTEREST RATE OF 4.10% AND MATURES ON OCTOBER 6, 2029. MONTHLY PAYMENTS OF $7,726 ARE DUE BEGINNING NOVEMBER 6, 2022. ACCRUED INTEREST AS OF SEPTEMBER 30, 2024 IS $4,021. ONLY $1,176,904 OF THESE FUNDS HAVE BEEN RECEIVED AS OF SEPTEMBER 30, 2024. FORM 990, PART X, LINE 23 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, 2024. FORM 990, PART X, LINE 23 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, 2024. FORM 990, PART X, LINE 23 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. ACCRUED INTEREST AS OF SEPTEMBER 30, 2024 IS $914. ONLY $197,940 OF THESE FUNDS HAVE BEEN RECEIVED AS OF SEPTEMBER 30, 2024. HOUSING AUTHORITY OF WINSTON-SALEM 500 W 4TH STREET WINSTONSALEM NC 27101 566003102 HOUSING DEVELOPMENT NC N/A 1 FORSYTH ECONOMIC VENTURES INC 500 W 4TH STREET WINSTONSALEM NC 27101 561831053 HOUSING DEVELOPMENT NC 501(C)(3) HOUSING AUTHORITY OF WINSTON-SALEM 0 FORSYTH REAL ESTATE DEVELOPMENT LLC 500 W 4TH STREET SUITE 300 WINSTONSALEM NC 27101 830453732 PROP ACQ & DE NC N/A C 47578 213682 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0