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EX-10.9 - EXHIBIT 10.9 - NATIONAL TAX CREDIT INVESTORS II | ntci2_ex10z9.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 8, 2010
NATIONAL TAX CREDIT INVESTORS II
(Exact name of Registrant as specified in its charter)
California 0-20610 93-1017959
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
55 Beattie Place
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(864) 239-1000
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
National Tax Credit Investors II, a California limited partnership (the Registrant), has a 50.49% limited partnership interest in Palm Springs View Apartments, Ltd., a California limited partnership (Palm Springs View). Palm Springs View owns a 119-unit apartment complex located in Palm Springs, California. As previously disclosed, on September 8, 2009, the Registrant entered into an Assignment and Assumption Agreement with Investment Concepts, Inc., a California corporation that serves as a co-general partner of Palm Springs View (the Co-General Partner), and an affiliate of the Co-General Partner, GAC Realty Advisors, LP, a Nevada limited partnership, that provides for the assignment of the Registrants limited partnership interest in Palm Springs View to GAC Realty Advisors for $200,000. Closing of the assignment is subject to HUD approval of the transaction, which was to be received by January 31, 2010. The parties had the right to terminate the assignment if HUD approval was not received by January 31, 2010. On February 8, 2010, the Registrant entered into a First Amendment to Assignment and Assumption Agreement with an effective date of January 31, 2010 pursuant to which the closing date was extended from January 31, 2010 to March 1, 2010. The Registrants investment balance in Palm Springs View was zero at September 30, 2009 and December 31, 2008.
The foregoing description is qualified in its entirety by reference to the First Amendment to Assignment and Assumption Agreement, a copy of which is filed as exhibit 10.9 to this report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.9 First Amendment to Assignment and Assumption Agreement by and among Investment Concepts, Inc., a California corporation, National Tax Credit, Inc. II, a California corporation, National Tax Credit Investors II, a California limited partnership, and GAC Realty Advisors, LP, a Nevada limited partnership, effective January 31, 2010.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NATIONAL TAX CREDIT INVESTORS II
By: National Partnership Investments Corp.
General Partner
By: /s/Stephen B. Waters
Stephen B. Waters
Senior Director
Date: February 12, 2010