THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2017 and 2016 __________
Nannie Helen Owner, LLC (Strand) New Mark Twain, LLC (Mark Twain)
Orange Affordable Housing, Inc. (Orange) Plaza Borinquen 88 Owner L.P. (Plaza B) Preserving Louisiana’s Affordable Housing I, LLC (Copper) [4] Preserving Louisiana’s Affordable Housing II, LLC (Magnolia) [5] The Pines Owner, LLC (Pines at Carolina) Takoma Place Investor, LLC (Takoma) Virginia Village Apartments (Virginia Village) [7]
[1]
The accounts and balances of Falls Church are consolidated with Winter Hill, which is a wholly-owned subsidiary, and Virginia Village Apartments, which has separate books and records but is not a separate legal entity from Falls Church. These consolidated entities are collectively referred to as Falls Church in the consolidated financial statements. On July 14, 2011, the property and the related assets and liabilities of Cherry were sold to an unrelated third party. Cherry retained a .01% special limited partner interest in the new entity in conjunction with its receipt of a $253,788 residual receipt note as part of the sales proceeds. On December 13, 2017, the properties and the related assets and liabilities of Asmara were sold to an unrelated third party. On May 12, 2017, the property and the related assets and liabilities of Copper were sold to an unrelated third party.
[2]
[3]
[4]
[5] On May 12, 2017, the property and the related assets and liabilities of Magnolia were sold to an unrelated third party. [6] On January 11, 2017, the property and the related assets and liabilities of Benning were sold to Benning Heights Investor LLC, a related party. [7] Virginia Village is a 4-unit property located in Falls Church, Virginia which, is a component of FCHC Virginia Community Development Company. This property was sold on November 28, 2017 to an unrelated third party.
[8]
On June 22, 2017, A.C.T. Affordable Housing purchased LaSalle at Lincoln Heights. On September 23, 2016, the property and related assets and liabilities of Milliken were sold to Ship’s Cove Preservation Limited Partnership, a related party.
[9]
The following list of tax credit entities is comprised of limited partnerships and limited liability companies that rehabilitate and operate affordable multifamily housing communities. NHPF and certain affiliated entities act in the capacity of general partner/managing member or developer for these tax credit entities:
Alabama Ave. Affordable Housing, L.P. (Roundtree) Bayview Preservation Partners, Limited Partnership (Bayview Preservation)
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