WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP

Transcription

1 BOE-267-L1 (P1) REV. 08 (08-08) WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP This Claim is Filed for Fiscal Year This is a Supplemenal Affidavi filed wih BOE-267, Claim for Welfare Exempion (Firs Filing) BOE-267-A, Claim for Welfare Exempion (Annual Filing) If filed wih BOE-267-A, check applicable boxes below Secreary of Sae Form LP-2 filed wihin he las year Limied Parnership Agreemen, or oher agreemen, amended wihin he las year Secion 1. Idenificaion of Limied Parnership (LP) and Propery Name of Limied Parnership Propery Locaion (number and sree) Dae Propery Acquired by LP Ciy, Couny, Sae, Zip Code Supplemenal Clearance Cerificae (SCC) No. (Provide copy of cerificae wih his claim and a copy of he Finding Shee issued by he Sae Board of Equalizaion if filing wih BOE-267. If you do no have an SCC, have you filed a claim for an SCC wih he BOE? Yes No If No, see insrucions for informaion on obaining an SCC claim form. Secion 2. Idenificaion of Managing General Parner (MGP) Name of Organizaion Corporae ID No. (or LLC No.) Mailing address (number and sree) Dae Admied ino LP as GP Ciy, Sae, Zip Code Organizaional Clearance Cerificae (OCC) No. (Provide copy of cerificae wih his claim if firs filing). If he MGP does no have an OCC, has he MGP filed a claim for an OCC wih he BOE? Yes No If No, see insrucions for informaion on obaining an OCC claim form. Secion 3. Governmen Financing or Tax Credis; Use Resricion As o he low-income housing propery for which his claim is made, he general parners of he limied parnership, including he managing general parner, cerify ha (check all applicable boxes): A. There is an enforceable and verifiable agreemen wih a public agency or a recorded deed resricion ha resrics he projecs s usage and ha provides ha he unis designaed for use by lower-income households are coninuously available o or occupied by lower-income households a rens ha do no exceed hose prescribed by secion of he Healh and Safey Code, or, o he exen ha he erms of federal, sae, or local financing or financial assisance conflics wih secion 50053, rens ha do no exceed hose prescribed by he erms of he financing or financial assisance. B. The funds which would have been necessary o pay propery axes are used o mainain he affordabiliy of, reduce rens oherwise necessary for, he unis occupied by lower-income households. C. A leas one of he following crieria is applicable (check one): (1) The acquisiion, consrucion, rehabiliaion, developmen, or operaion of he propery is financed wih governmen financing in he form of ax-exemp morgage revenue bonds; general obligaion bonds; local, sae, or federal loans or grans; or any loan insured, held, or guaraneed by he federal governmen; or projec based federal funding under secion 8 of he Housing Ac of (The erm governmen financing does no include federal renal assisance hrough enan ren-subsidy vouchers under secion 8 of he Housing Ac of 1937.) (2) The owner is eligible and receives sae low-income housing ax credis pursuan o Revenue and Taxaion secions 12205, 12206, , 17058, , and or federal low-income housing ax credis pursuan o secion 42 of he Inernal Revenue Code. FOR ASSESSOR S USE ONLY Whom should we conac during normal business hours for addiional informaion? Received by (Assessor s designee) NAME of (couny or ciy) on (dae) DAYTIME PHONE NUMBER THIS DOCUMENT IS SUBJECT TO PUBLIC INSPECTION

2 BOE-267-L1 (P2) REV. 08 (08-08) Secion 4. Household Informaion A. Eligibiliy Based on Family Househould Income Secion 214(g) of he California Revenue and Taxaion Code provides ha low-income housing propery owned and operaed by a limied parnership wih a nonprofi corporaion or eligible limied liabiliy company as managing general parner can qualify for he Welfare Exempion from propery axes o he exen ha he income of he households residing herein do no exceed amouns lised below: Noe: If a dollar amoun is no enered for each number of persons, conac he Couny Assessor for he figures. The amouns are differen for each couny and change annually. In order o qualify all or a porion of he propery for he exempion, you mus have: (1) a signed saemen for each household ha qualifies (you should keep he saemen for fuure audis); and (2) you mus complee he repor below: B. Lis of Qualified Households Complee or aach lis showing desired informaion for only hose households ha qualify; use addiional shees if necessary. Please indicae which vacan unis are held for low-income housing enans. ADDRESS/UNIT NO. (use wo lines if here are wo households in a uni) (may be more han one household in uni) FOR DOES NOT EXCEED 1. $ C. Recap for All Households, Eligible and Ineligible Noe: The low-income exempion calculaion under secion 214(g) is he value of low-income households o he oal area of he propery. EXAMPLE ACTUAL 1. Number of residenial unis designaed for use by or serving lower-income households Toal number of residenial unis Area of qualified lower-income households (square fee) 75, Toal area of building(s) (square fee) 150,000 D. Exempion Calculaion Percenage of he area of lower-income households occupying he propery o he oal area of he propery Percenage of value of propery eligible for exempion 75,000/150,000 50% /

3 BOE-267-L1 (P3) REV. 08 (08-08) Secion 5. Managing General Parner Requiremens A. Managing General Parner Designaion. (1) Limied parnership agreemen expressly designaes he nonprofi corporaion as he managing general parner. (2) Managing general parner is auhorized o receive a parnership managemen fee or similar form of compensaion payable in he amoun and manner se forh in he limied parnership agreemen or oher agreemen execured by all of he general parners. (3) Managing general parner has maerial paricipaion in he conrol, managemen and direcion of he limied parnership s business (see Secion 5.B.). (4) Officers and direcors of he for-profi general parners, for-profi limied parners, or any of is for-profi affiliaes, do no, as individuals or collecively, have a conrolling voe or majoriy ineres in he managing general parner. B. Maerial Paricipaion. The managing general parner is a general parner ha has maerial paricipaion in he conrol, managemen, and direcion of he limied parnership s business, in ha he managing general parner has a righ o voe in all he major decisions, including any acions which require a voe of a majoriy in ineres of he general parner; performs subsanial managemen duies (a leas 5 of he 12 duies lised in Secion 5.C.); direcly or indirecly, under is supervision, manages he limied parnership; annually conducs a physical inspecion of he low-income housing propery o ensure ha he propery is being used as low-income housing and mees all of he requiremens of he welfare exempion for low-income housing properies; annually submis a cerificaion o he Couny Assessor of he couny in which he propery is locaed ha he low-income housing propery mees all Welfare Exempion requiremens for low-income housing properies. C. Subsanial Managemen Duies. The managing general parner acually performs a leas 5 of 12 following parnership managemen duies: (1) Managing general parner rens, mainains and repairs he low-income housing propery, or if such duies are delegaed o a propery managemen agen, paricipaes in hiring and overseeing he work of he propery managemen agen. (2) Managing general parner paricipaes in hiring and overseeing he work of all persons necessary o provide services for he managemen and operaion of he limied parnership business. (3) Managing general parner execues and enforces all conracs execued by he limied parnership. (4) Managing general parner execues and delivers all parnership documens on behalf of he limied parnership. (5) Managing general parner prepares or causes o be prepared all repors o be provided o he parners or lenders on a monhly, quarerly, or annual basis consisen wih he requiremens of he limied parnership agreemen. (6) Managing general parner coordinaes all presen and fuure developmen, consrucion, or rehabiliaion of low-income housing propery ha is he subjec of he limied parnership agreemen. (7) Managing general parner moniors compliance wih all governmen regulaions and files or supervises he filing of all required documens wih governmen agencies. (8) Managing general parner acquires, holds, assigns or disposes of propery or any ineres in propery. (9) Managing general parner borrows money on behalf of he limied parnership, encumbers limied parnership asses, places ile in he name of he nominee o obain financing, prepays in whole or in par, refinances, increases, modifies or exends any obligaion. (10) Managing general parner pays organizaional expenses incurred in he creaion of he parnership and all operaional expenses. (11) Managing general parner deermines he amoun and iming of disribuions o parners and esablishes and mainains all required reserves. (12) Managing general parner ensures ha chariable services or benefis, such as vocaional raining, educaion programs, childcare and afer-school programs, culural aciviies, family counseling, ransporaion, meals, and linkages o healh and/or social services are provided or informaion regarding chariable services or benefis are made available o he low-income housing enans. Secion 6. Delegaion of Auhoriy A. The person making his claim cerifies ha he limied parnership agreemen (please check applicable box): Conains a delegaion of auhoriy clause Does no conain a delegaion of auhoriy clause B. If he limied parnership agreemen conains a delegaion of auhoriy clause, such clause provides ha: The managing general parner may no delegae any of is parnership managemen duies, as idenified in Rule 140.1, subdivision (a)(10) and defined in Secion 5 or The managing general parner may delegae is parnership managemen duies, as idenified in Secion 5, o persons who under is supervision, may perform such duies for he parnership subjec o he supervision by he managing general parner. C. The managing general parner has delegaed some or all of is parnership managemen duies idenified in Secion 5 : Yes No If yes, please lis each duy delegaed, he dae delegaed, and he person or eniy performing such duy (aach addiional pages if necessary): THIS STATEMENT IS SUBJECT TO AUDIT

4 BOE-267-L1 (P4) REV. 08 (08-08) Secion 7. Cerificaion: The form mus be cerified by he managing general parner and all of he general parners of he limied parnership (please aach addiional pages if necessary). CERTIFICATION I cerify (or declare) under penaly of perjury under he laws of he Sae of California ha he foregoing and all informaion conained herein, including any accompanying saemens or documens, is rue, correc, and complee o he bes of my knowledge and belief. NAME OF LIMITED PARTNERSHIP LOCATION OF LIMITED PARTNERSHIP PROPERTY NAME AND TITLE OF MANAGING GENERAL PARTNER (yped or prined) SIGNATURE OF MANAGING GENERAL PARTNER NAME AND TITLE OF GENERAL PARTNER (yped or prined) NAME AND TITLE OF GENERAL PARTNER (yped or prined) NAME AND TITLE OF GENERAL PARTNER (yped or prined) NAME AND TITLE OF GENERAL PARTNER (yped or prined) NAME AND TITLE OF GENERAL PARTNER (yped or prined) NAME AND TITLE OF GENERAL PARTNER (yped or prined)

5 BOE-267-L1 (P5) REV. 08 (08-08) INSTRUCTIONS FOR FILING WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP Revenue and Taxaion Code, Secion 214(g) California Code of Regulaions, Tile 18, Secions 140, and FILING OF AFFIDAVIT This affidavi is required under he provisions of secions 214(g), , 251, and of he Revenue and Taxaion Code and mus be filed when seeking exempion on low-income housing propery owned and operaed by a limied parnership. This affidavi supplemens he claim for welfare exempion and mus be filed wih he couny assessor by February 15 o avoid a lae filing penaly under secion 270. If you do no complee and file his form, you may be denied he exempion. The claiman should provide each household living on he propery wih a copy of he aached form iled Lower-Income Households - Saemen of Family Household Income. (The organizaion claiming he exempion keeps he compleed, signed saemens in case of furher audi.) FISCAL YEAR The fiscal year for which he limied parnership is seeking exempion mus be saed. SECTION 1. Idenificaion of Limied Parnership (LP) and Propery. Idenify he name of he limied parnership ha owns he low-income housing propery, locaion of he low-income housing propery, couny in which he propery is locaed, and dae he propery was acquired by he limied parnership. As a prerequisie o being graned he Welfare Exempion for low-income housing propery owned by a limied parnership, he limied parnership mus qualify for a Supplemenal Clearance Cerificae for Limied Parnership for Low-Income Housing Propery Welfare Exempion (BOE-277-SCC) (hereinafer referred o as SCC ) on he propery. If he limied parnership holds a SCC for he low-income housing propery, idenify he cerificae number or indicae wheher or no an applicaion is pending wih he Board. For addiional informaion regarding he requiremens, see Propery Tax Rules 140, 140.1, and 140.2, available on he Board s websie a SECTION 2. Idenificaion of Managing General Parner (MGP). Idenify he name of he managing general parner, corporae idenificaion number or limied liabiliy company number, mailing address of he managing general parner, and he dae he managing general parner was admied o he limied parnership. As a prerequisie o being graned he Welfare Exempion for low-income housing propery owned by a limied parnership, he managing general parner of he limied parnership mus qualify for an Organizaional Clearance Cerificae for Welfare or Veerans Organizaion Exempion (BOE-277-OCC) (hereinafer referred o as OCC ) from he Sae Board of Equalizaion (Board). If he managing general parner holds an OCC, idenify he cerificae number or indicae wheher or no an applicaion has been filed wih he Board. SECTION 3. Governmen Financing or Tax Credis; Use Resricion. Check all applicable boxes o cerify if (1) he propery use is resriced o low-income housing by a recorded regulaory agreemen or recorded deed resricion, and (2) he funds ha would have been necessary o pay propery axes are used o mainain he affordabiliy of he housing or o reduce he rens for he unis occupied by lower-income households, and (3) he propery receives eiher federal low-income housing ax credis or governmen financing. SECTION 4. Household Informaion. Include a lis of households ha qualify for exempion based on he maximum income level for he couny for he claim year where he propery is locaed (see dollar amoun on above able). Also, please indicae which vacan unis are held for low-income housing enans. SECTION 5.A. Managing General Parner Designaion. Check all applicable boxes. See Rule 140.1, subdivision (a)(6), which provides he definiion of managing general parner of a limied parnership under Revenue and Taxaion Code secion 214(g). SECTION 5.B. Maerial Paricipaion. A limied parnership, in which he managing general parner is an eligible nonprofi corporaion or a limied liabiliy company, may qualify for exempion for a paricular propery provided ha he limied parnership agreemen, or oher agreemen execued by all of he general parners, provides ha he managing general parner is a general parner ha has maerial paricipaion in he conrol, managemen, and direcion of he limied parnership s business. Check if applicable [see Rule 140.1, subdivision (a)(7)]. SECTION 5.C. Subsanial Managemen Duies. A limied parnership in which he managing general parner is an eligible nonprofi corporaion or limied liabiliy company, may qualify for exempion for a paricular propery provided ha he limied parnership agreemen, or oher agreemen execued by all of he general parners, provides ha he managing general parner is a general parner wih subsanial managemen duies [see Rule 140.1, subdivision (a)(10)]. Check only if 5 of he 12 managemen duies are performed by he managing general parner. SECTION 6. Delegaion of Auhoriy. If he limied parnership agreemen conains a delegaion of auhoriy clause, i may provide eiher ha: (1) he managing general parner may no delegae any of is parnership managemen duies; or (2) he managing general parner may delegae some or all of is parnership managemen duies o persons who, under is supervision, may perform such duies on behalf of he limied parnership [see Rule 140.1, subdivision (d)]. If he managing general parner is auhorized o delegae is parnership duies and elecs o delegae one or more of is duies, he managing general parner mus demonsrae ha i is acually supervising he performance of he delegaed duies. If he agreemen conains a delegaion of auhoriy clause and saes ha he managing general parner may delegae is parnership managemen duies, lis each duy delegaed, he dae each duy was delegaed, and person performing such duy. RECORDS AND DOCUMENTS MUST BE MAINTAINED BY THE MANAGING GENERAL PARTNER A copy of he claim form and supporing documens should be reained by he managing general parner. The managing general parner mus mainain records and documens evidencing he parnership managemen duies performed by he managing general parner. Such records and documens may include, bu are no limied o: accouning books and records; ax reurns; budges and financial repors; repors required by lenders; documens relaed o he consrucion or rehabiliaion of real propery; legal documens such as conracs, deeds, noes, leases, and deeds of rus; documens relaed o complying wih governmen regulaions and filings; documens relaed o propery inspecions; documens relaed o chariable services or benefis provided or he informaion provided regarding such services or benefis; repors prepared for he parners; bank accoun records; audied annual financial saemen of he limied parnership; and propery managemen agreemen. OBTAINING CLAIM FORMS FROM THE STATE BOARD OF EQUALIZATION Claim form BOE-277, Claim for Organizaional Clearance Cerificae - Welfare Exempion, and claim form 277-L1, Claim for Supplemenal Clearance Cerficae for Limied Parnership, Low-Income Housing Propery-Welfare Exempion are boh available on he Board s websie ( or you may reques he forms by conacing he Exempion s Secion a

6 BOE-267-L1 (P6) REV. 08 (08-08) LOWER-INCOME S STATEMENT OF FAMILY INCOME (SUGGESTED FAMILy INCOME REPORTING FORM) Secion 214(g) of he California Revenue and Taxaion Code provides ha propery owned by nonprofi organizaions or eligible liabiliy limied companies providing housing for lower-income households can qualify for he Welfare Exempion from propery axes for hose unis whose family household income does no exceed he limis saed herein. Promply complee, sign and reurn his saemen o he manager of he organizaion ha provides he housing so he organizaion will have ime o complee he form ha mus be filed wih he Couny Assessor. ADDRESS OR UNIT NUMBER (No P.O. Box Numbers) NAME(S) OF OCCUPANTS NUMBER OF PERSONS IN FAMILY INCOME LIMIT 1 $ $ 1. Number of persons in family household. 2. I cerify (or declare) under penaly of perjury under he laws of he Sae of California ha he family household income for he prior calendar year did no exceed $. (Ener he amoun of he income limi shown for he number of persons in family household.) SIGNATURE TITLE

7 BOE-267-L1 (P7) REV. 08 (08-08) INSTRUCTIONS LOW-INCOME S STATEMENT OF FAMILY INCOME (SUGGESTED FAMILy INCOME REPORTING FORM) 1. Ener he address or uni number and he names of he persons who comprise your household. 2. Ener on line 1 he number of persons who comprise your household. 3. Ener on line 2 he income limi figure for he number of persons shown on line Sign he saemen if your combined household income is he same as or less han he income limi. 5. Promply reurn he saemen o an officer or he manager of he organizaion on whose propery you reside. Household Income: Income includes bu is no limied o: (1) Wages, salaries, fees, ips, bonuses, commissions and oher employee compensaion. (2) Ne income from he operaion of a business or profession or from renal of real or personal propery. (3) Ineres and dividends. (4) Periodic paymens received from social securiy, annuiies, insurance policies, reiremen funds, pensions, disabiliy or oher similar ypes of periodic receips. (5) Unemploymen and disabiliy compensaion, workers compensaion and severance pay. (6) Public assisance exclusive of any amoun specified for sheler and uiliies. (7) Alimony, child suppor paymens and regular conribuions or gifs from persons no residing in he dwelling. (8) All regular pay, special pay and allowances of a member of he Armed Forces who is head of he household or spouse. The following iems shall no be considered as income: (1) Casual, sporadic or irregular gifs. (2) Amouns specifically for or in reimbursemen of he cos of medical expenses. (3) Lump-sum addiions o family asses such as inheriances, insurance paymens (including paymens under healh and acciden insurance and workers compensaion), capial gains and selemen for personal or propery losses. (4) Amouns of educaional scholarships paid direcly o he suden or o he educaional insiuion and veeran benefis for coss of uiion, fees, books, and equipmen. (5) The value of food coupons. (6) Paymens received from he ACTION Agency, VISTA, Service Learning Programs, Special Voluneer Programs, Naional Older American Voluneer Program, Reired Senior Voluneer Program, Foser Grandparen Program, Older American Communiy Services Program, SCORE and ACE. (7) Foser Child Care paymens. For a complee lising of income and deducions, see Deparmen of Housing and Communiy Developmen Regulaions, secion 6914 of Tile 25 of he California Code of Regulaions.