Investing Receivables

12 Months Ended

Dec. 31, 2021

Investing receivables consisted of the following (in thousands):


	December 31,
	2021		2020
Notes receivable from the City of Huntsville	$	77,784	$	65,564
Other investing loans receivable	6,041		6,041
Amortized cost basis	83,825		71,605
Allowance for credit losses	(1,599)		(2,851)
Investing receivables, net	$	82,226	$	68,754

The balances above include accrued interest receivable, net of allowance for credit losses, of $5.3 million as of December 31, 2021 and $4.8 million as of December 31, 2020.

Our notes receivable from the City of Huntsville funded infrastructure costs in connection with our LW Redstone Company, LLC joint venture (see Note 6) and carry an interest rate of 9.95%. These notes and the accrued and unpaid interest thereon, which compounds annually on March 1, will be repaid using the real estate taxes generated by the properties developed by the joint venture. When these tax revenues are sufficient to cover the debt service on a certain increment of municipal bonds, the City of Huntsville will be required to issue bonds to repay the notes and the accrued and unpaid interest thereon. Each note has a maturity date of the earlier of 30 years from the date issued or the expiration of the tax increment district comprising the developed properties in 2045.

Our other investing loans receivable carry an interest rate of 8.0% and mature in 2022.

The fair value of these receivables was approximately $84 million as of December 31, 2021 and $73 million as of December 31, 2020.