Fillable WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF (County of Lake)

Fill Online, Printable, Fillable, Blank WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF (County of Lake) Form

Use Fill to complete blank online COUNTY OF LAKE (CA) pdf forms for free. Once completed you can sign your fillable form or send for signing. All forms are printable and downloadable.

WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF (County of Lake)

On average this form takes 21 minutes to complete

The WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF (County of Lake) form is 4 pages long and contains:

  • 0 signatures
  • 25 check-boxes
  • 74 other fields

Country of origin: US
File type: PDF

U.S.A. forms for County of Lake

BROWSE COUNTY OF LAKE (CA) FORMS

Related forms
Fill has a huge library of thousands of forms all set up to be filled in easily and signed.
Fill in your chosen form
Sign the form using our drawing tool
Send to someone else to fill in and sign.
find another form
 
BOE-267-L1 (P1) REV. 15 (05-19)
WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT,
LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP
(1) The acquisition, construction, rehabilitation, development, or operation of the property is nanced with government nancing in the form
of tax-exempt mortgage revenue bonds; general obligation bonds; local, state, or federal loans or grants; or any loan insured, held, or
guaranteed by the federal government; or project–based federal funding under section 8 of the Housing Act of 1937. (The term “government
nancing” does not include federal rental assistance through tenant rent-subsidy vouchers under section 8 of the Housing Act of 1937.)
(2) The owner is eligible for and receives state low-income housing tax credits pursuant to Revenue and Taxation sections 12205, 12206,
17057.5, 17058, 23610.4, and 23610.5 or federal low-income housing tax credits pursuant to section 42 of the Internal Revenue Code.
This is a Supplemental Adavit led with
If led with BOE-267-A, check applicable boxes below
SECTION 1. IDENTIFICATION OF
LIMITED PARTNERSHIP (LP) AND PROPERTY
Property Location (number and street)
City, County, State, Zip Code
Name of Limited Partnership
Date Property Acquired by LP
This Claim is Filed for Fiscal Year 20_____ — 20_____
BOE-267, Claim for Welfare Exemption (First Filing)
BOE-267-A, Claim for Welfare Exemption (Annual Filing)
Secretary of State Form LP-2 led within the last year
Limited Partnership Agreement, or other agreement, amended within the last year
SECTION 2. IDENTIFICATION OF MANAGING GENERAL PARTNER (MGP)
Mailing address (number and street)
City, State, Zip Code
Name of Organization
Corporate ID No. (or LLC No.)
Supplemental Clearance Certicate (SCC) No. (Provide copy of certicate with this claim and a copy of the Finding Sheet
issued by the State Board of Equalization (Board) if ling with BOE-267.
Date Admitted into LP as GP
__________________________
Yes No
A. There is an enforceable and veriable agreement with a public agency or a recorded deed restriction that restricts the projects’s usage and that
provides that the units designated for use by lower-income households are continuously available to or occupied by lower-income households
at rents that do not exceed those prescribed by section 50053 of the Health and Safety Code, or, to the extent that the terms of federal, state,
or local nancing or nancial assistance conicts with section 50053, rents that do not exceed those prescribed by the terms of the nancing or
nancial assistance. For property tax exemption purposes, a unit is considered occupied by a lower income household if the occupants were
qualied when their occupancy began, as long as the household income is not above 140% of area median income (“over-income” tenants), the
unit is rent restricted, and the property receives federal low-income housing tax credits. See Revenue and Taxation Code section 214(g)(2)(A)((iii).
If you are ling this supplemental adavit with BOE-267 (First Filing), submit a copy of the regulatory agreement or recorded deed restriction.
B. The funds which would have been necessary to pay property taxes are used to maintain the aordability of, reduce rents otherwise necessary for,
the units occupied by lower-income households.
SECTION 3. GOVERNMENT FINANCING OR TAX CREDITS; USE RESTRICTION
As to the low-income housing property for which this claim is made, the general partners of the limited partnership, including the managing general partner,
certify that (check all applicable boxes):
C. At least one of the following criteria is applicable (check one):
THIS DOCUMENT IS SUBJECT TO PUBLIC INSPECTION
If you do not have an SCC, have you led a claim for an SCC?
If no, see instructions for information on obtaining an SCC claim form
SECTION 4. HOUSEHOLD INFORMATION
A1. Eligibility Based on Family Household Income - Lower Income Households
Section 214(g) of the California Revenue and T
axation Code provides that
low-income housing property owned and operated by a limited partnership with
a nonprot corporation or eligible limited liability company as managing general partner can qualify for the Welfare Exemption from property taxes to the
extent that the income of the households residing therein do not exceed amounts listed below: (See Section 4.A2 for income limit exception)
A2. Eligibility Based on Family Household Income - 140% of Area Median Income (AMI)
Section 214(g)(2)(A)(iii) of the Revenue and Taxation Code
provides that under certain circumstances, property eligible for and receives federal low income
housing tax credits (LIHTC) pursuant to Section 42 of the Internal Revenue Code can qualify for the welfare exemption from property taxes to the extent
that the income of the households residing therein do not exceed amounts listed below:
NO. OF PERSONS
IN HOUSEHOLD
MAXIMUM
INCOME
NO. OF PERSONS
IN HOUSEHOLD
MAXIMUM
INCOME
NO. OF PERSONS
IN HOUSEHOLD
MAXIMUM
INCOME
NO. OF PERSONS
IN HOUSEHOLD
MAXIMUM
INCOME
1 3 5 7
2 4 6 8
NO. OF PERSONS
IN HOUSEHOLD
140% AMI
NO. OF PERSONS
IN HOUSEHOLD
140% AMI
NO. OF PERSONS
IN HOUSEHOLD
140% AMI
NO. OF PERSONS
IN HOUSEHOLD
140% AMI
1 3 5 7
2 4 6 8
Note: If a dollar amount is not entered for each number of persons, contact the County Assessor for the gures. The amounts are dierent for each
county and change annually. In
order to qualify all or a portion of the property for the exemption, you must have: (1) a signed statement for each
household that qualies (you should keep the statement for future audits); and (2) you must complete parts 4B, 4C, and Section 5 below.
B. List of Qualied Households
Attach list showing desired information for only those households that qualify. Identify which units qualify under the 140% AMI criteria indicated in
Section 4.A2. Also, please identify the vacant units reserved for low-income households. Provide the following information: address/unit number,
number of persons in household, maximum income for household.
BOE-267-L1 (P2) REV. 15 (05-19)
C. Number of Units Serving Lower Income Households
Note: Under section 214(g), the exemption percentage is the total number of "units serving lower income
households" divided by the total number of residential units. This percentage is applied to the entire property
including "related facilities".
Does this property include commercial space?
Yes No
Give a brief description of its use:
If you have units meeting the criteria in A2, that do not meet the criteria of A1 upon which you seek exemption, check here to conrm the
property has federal LIHTC and submit BOE-267-L3, Welfare Exemption Supplemental Adavit, Households Exceeding Low-Income Limits -
“Over-Income” Tenant Data (140% AMI). BOE-267-L3 is condential.
EXAMPLE ACTUAL
1. Number of residential units designated for use by or serving lower income households - lower income limits.
2. Number of residential units occupied by households exceeding lower income limits but do not exceed 140% AMI
(“over-income” tenants), as reported on BOE-267-L3.
3. Total number of qualied households (C1 + C2)
4. Total number of residential units in property.
5. Percentage which the number of "units serving lower income households" is of the total number of residential units.
(C3 / C4 above)
88
2
90
100
90%
(90/100)
SECTION 5. PROPERTY USE.
SECTION 6. MANAGING GENERAL PARTNER REQUIREMENTS
A. Managing General Partner Designation.
(1) Limited partnership agreement expressly designates the nonprot corporation as the managing general partner.
(2) Managing general partner is authorized to receive a partnership management fee or similar form of compensation payable in the amount
and manner set forth in the limited partnership agreement or other agreement executed by all of the general partners.
(3) Managing general partner has material participation in the control, management and direction of the limited partnership’s
business (see Section 6.B.).
(4) Ocers and directors of the for-prot general partners, for-prot limited partners, or any of its for-prot aliates, do not, as individuals or
collectively, have a controlling vote or majority interest in the managing general partner.
The managing general partner is a general partner that has “material participation” in the control, management, and direction of the limited
partnership’s business, in that the managing general partner has a right to vote in all the major decisions, including any actions which require
a vote of a majority in interest of the general partner; performs substantial management duties (at least 5 of the 12 duties listed in Section
6.C.); directly or indirectly, under its supervision, manages the limited partnership; annually conducts a physical inspection of the low-income
housing property to ensure that the property is being used as low-income housing and meets all of the requirements of the welfare exemption
for low-income housing properties; annually submits a certication to the County Assessor of the county in which the property is located that
the low-income housing property meets all Welfare Exemption requirements for low-income housing properties.
B. Material Participation.
The managing general partner actually performs at least 5 of 12 following partnership management duties:
C. Substantial Management Duties.
BOE-267-L1 (P3) REV. 15 (05-19)
If yes, please list each duty delegated, the date delegated, and the person or entity performing such duty (attach additional pages if necessary):
(1) Managing general partner rents, maintains and repairs the low-income housing property, or if such duties are delegated to a property
management agent, participates in hiring and overseeing the work of the property management agent.
(2) Managing general partner participates in hiring and overseeing the work of all persons necessary to provide services for the management
and operation of the limited partnership business.
(3) Managing general partner executes and enforces all contracts executed by the limited partnership.
(4) Managing general partner executes and delivers all partnership documents on behalf of the limited partnership.
(5) Managing general partner prepares or causes to be prepared all reports to be provided to the partners or lenders on a monthly,
quarterly, or annual basis consistent with the requirements of the limited partnership agreement.
(6) Managing general partner coordinates all present and future development, construction, or rehabilitation of low-income housing property
that is the subject of the limited partnership agreement.
(7) Managing general partner monitors compliance with all government regulations and les or supervises the ling of all required documents
with government agencies.
(8) Managing general partner acquires, holds, assigns or disposes of property or any interest in property.
(9) Managing general partner borrows money on behalf of the limited partnership, encumbers limited partnership assets, places title in the
name of the nominee to obtain nancing, prepays in whole or in part, renances, increases, modies or extends any obligation.
(10) Managing general partner pays organizational expenses incurred in the creation of the partnership and all operational expenses.
(11) Managing general partner determines the amount and timing of distributions to partners and establishes and maintains all required
reserves.
(12) Managing general partner ensures that charitable services or benets, such as vocational training, education programs,
childcare and after-school programs, cultural activities, family counseling, transportation, meals, and linkages to health and/or social
services are provided or information regarding charitable services or benets are made available to the low-income housing tenants.
SECTION 7. DELEGATION OF AUTHORITY
A. The person making this claim certies that the limited partnership agreement (please check applicable box):
Contains a delegation of authority clause
Does not contain a delegation of authority clause
B. If the limited partnership agreement contains a delegation of authority clause, such clause provides that:
The managing general partner may not delegate any of its partnership management duties, as identied in Rule 140.1, subdivision (a)(10) and
dened in Section 6 or
The managing general partner may delegate its partnership management duties, as identied in Section 6, to persons who under its supervision,
may perform such duties for the partnership subject to the supervision by the managing general partner.
C. The managing general partner has delegated some or all of its partnership management duties identied in Section 6:
Yes No
THIS STATEMENT IS SUBJECT TO AUDIT
SECTION 8. Certication:
The form must be certied by the managing general partner and all of the general partners of the limited partnership (please attach additional pages if
necessary).
BOE-267-L1 (P4) REV. 15 (05-19)
CERTIFICATION
I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing and all information contained herein, including
any accompanying statements or documents, is true, correct, and complete to the best of my knowledge and belief.
SIGNATURE OF MANAGING GENERAL PARTNER
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
SIGNATURE OF GENERAL PARTNER
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
t
( )
NAME OF LIMITED PARTNERSHIP
LOCATION OF LIMITED PARTNERSHIP PROPERTY
NAME AND TITLE OF MANAGING GENERAL PARTNER (typed or printed)
t
( )
( )
TELEPHONE
TELEPHONE
TELEPHONE
DATE
DATE
DATE
EMAIL ADDRESS
EMAIL ADDRESS
E-MAIL ADDRESS
SIGNATURE OF GENERAL PARTNER
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
SIGNATURE OF GENERAL PARTNER
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
t
( )
SIGNATURE OF GENERAL PARTNER
t
t
( )
TELEPHONE
TELEPHONE
DATE
DATE
EMAIL ADDRESS
E-MAIL ADDRESS
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
SIGNATURE OF GENERAL PARTNER
NAME AND TITLE OF GENERAL PARTNER (typed or printed)
( )
SIGNATURE OF GENERAL PARTNER
t
t
( )
TELEPHONE
TELEPHONE
DATE
DATE
EMAIL ADDRESS
EMAIL ADDRESS
INSTRUCTIONS FOR FILING WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT
LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP
FILING OF AFFIDAVIT
This adavit is required under the provisions of sections 214(g), 214.15, 251, and 254.5 of the Revenue and Taxation Code and must be led when
seeking exemption on low-income housing property owned and operated by a limited partnership. The income of the occupants must not
exceed certain limits (see section 4 of the claim form). This adavit supplements the claim for Welfare Exemption and must be led with
the county assessor by February 15 to avoid a late ling penalty under section 270. If you do not complete and le this form, you may be
denied the exemption. The claimant should provide each household living on the property with a copy of BOE-267-L-A, Lower Income
Households, Family Household Income Reporting Worksheet.
The organization claiming the exemption keeps the completed, signed statements in case of further audit. Do not submit the
worksheets with your ling.
FISCAL YEAR
The scal year for which an exemption is sought must be entered correctly. The proper scal year follows the lien date (12:01 a.m., January
1) as of which the taxable or exempt status of the property is determined. For example, a person ling a timely claim in February 2018
would enter “2018-2019” on line four of the claim; a “2017-2018” entry on a claim led in February 2018 would signify that a late claim was
being led for the preceding scal year.
SECTION 1. Identication of Limited Partnership (LP) and Property. Identify the name of the limited partnership that owns the low-income
housing property, location of the low-income housing property, county in which the property is located, and date the property was acquired by the limited
partnership. As a prerequisite to being granted the Welfare Exemption for low-income housing property owned by a limited partnership, the limited
partnership must qualify for a Supplemental Clearance Certicate for Limited Partnership for Low-Income Housing Property – Welfare Exemption
(BOE-277-SCC) (hereinafter referred to as “SCC”) on the property. If the limited partnership holds a SCC for the low-income housing
property, identify the certicate number or indicate whether or not an application is pending with the Board. For additional information
regarding the requirements, see Property Tax Rules 140, 140.1, and 140.2, available on the Board’s website at www.boe.ca.gov.
SECTION 2. Identication of Managing General Partner (MGP). Identify the name of the managing general partner, corporate identication
number or limited liability company number, mailing address of the managing general partner, and the date the managing general partner was admitted to
the limited partnership. As a prerequisite to being granted the Welfare Exemption for low-income housing property owned by a limited partnership,
the managing general partner of the limited partnership must qualify for an Organizational Clearance Certicate for Welfare or Veterans’ Organization
Exemption (BOE-277-OCC) (hereinafter referred to as “OCC”) from the State Board of Equalization (Board).
SECTION 3. Government Financing or Tax Credits; Use Restriction. Check all applicable boxes to certify if (1) the property use is restricted to
low-income housing by a recorded regulatory agreement or recorded deed restriction, and (2) the funds that would have been necessary
to pay property taxes are used to maintain the aordability of the housing or to reduce the rents for the units occupied by lower-income
households, and (3) the property receives either government nancing or state/federal low-income housing tax credits.
SECTION 4B. List of Qualied Households. Include a list of all households that qualify for exemption based on the maximum
income level for the county for the claim year where the property is located (see dollar amounts in Sections 4.A1 and 4.A2). Additionally,
claimant must submit BOE-267-L3 to include a list of households that qualify for exemption under the 140% AMI criteria indicated in
Section 4.A2. Also, please list vacant units held for low-income housing tenants.
SECTION 4C.
Revenue and Taxation Code section 214(g)(1) states rental housing and “related facilities” are entitled to a partial exemption equal to that
percentage of the value of the property that is equal to the percentage that the number of units serving lower income households represents
of the total number of residential units. The percentage determined shall apply to the total value of both improvements and land. Identify
the number of units designated for use by or serving lower income households and the total number of residential units for the property.
Units Serving Lower Income Households.
“Units serving lower income households” shall mean units that are occupied by lower income households at an aordable rent, as dened
in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local nancing or nancial assistance
conicts with section 50053, rents that do not exceed those prescribed by the terms of the nancing or nancial assistance. Eective
October 13, 2017, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that receives federal low income
housing tax credits shall continue to be treated as occupied by a lower income household if the occupants were lower income households on
the lien date in the scal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding
an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size (“over-income”
tenants). Units reserved for lower income households at an aordable rent that are temporarily vacant due to tenant turnover or repairs
shall be counted as occupied.
BOE-267-L1 (P5) REV. 15 (05-19)
INSTRUCTIONS FOR FILING WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT
LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP
Related Facilities.
Revenue and Taxation Code section 214(g)(3)(B) states “related facilities” means any manager’s units and any and all common area
spaces that are included within the physical boundaries of the rental housing development, including, but not limited to, common area
space, walkways, balconies, patios, clubhouse space, meeting rooms, laundry facilities, and parking areas, except any portions of the
overall development that are nonexempt commercial space.
SECTION 5.
This section requests information on any commercial space. If applicable, briey describe the commercial space (i.e., multi-
story building with residential use on oors 2-5 and retail space on ground oor) and use.
SECTION 6.A. Managing General Partner Designation.
Check all applicable boxes. See Rule 140.1, subdivision (a)(6), which
provides the denition of “managing general partner” of a limited partnership under Revenue and Taxation Code section 214(g).
SECTION 6.B. Material Participation. A limited partnership, in which the managing general partner is an eligible nonprot
corporation or a limited liability company, may qualify for exemption for a particular property provided that the limited partnership
agreement, or other agreement executed by all of the general partners, provides that the managing general partner is a general partner that has
“material participation” in the control, management, and direction of the limited partnership’s business. Check if applicable [see Rule 140.1,
subdivision (a)(7)].
SECTION 6.C. Substantial Management Duties. A limited partnership in which the managing general partner is an eligible
nonprot corporation or limited liability company, may qualify for exemption for a particular property provided that the limited partnership
agreement, or other agreement executed by all of the general partners, provides that the managing general partner is a general partner
with “substantial management duties” [see Rule 140.1, subdivision (a)(10)]. Check only if 5 of the 12 management duties are performed
by the managing general partner.
SECTION 7. Delegation of Authority. If the limited partnership agreement contains a delegation of authority clause, it may provide
either that: (1) the managing general partner may not delegate any of its partnership management duties; or (2) the managing general
partner may delegate some or all of its partnership management duties to persons who, under its supervision, may perform such duties on
behalf of the limited partnership [see Rule 140.1, subdivision (d)]. If the managing general partner is authorized to delegate its partnership
duties and elects to delegate one or more of its duties, the managing general partner must demonstrate that it is actually supervising the
performance of the delegated duties. If the agreement contains a delegation of authority clause and states that the managing
general partner may delegate its partnership management duties, list each duty delegated, the date each duty was delegated, and person
performing such duty.
RECORDS AND DOCUMENTS MUST BE MAINTAINED BY THE MANAGING GENERAL PARTNER
A copy of the claim form and supporting documents should be retained by the managing general partner. The managing
general partner must maintain records and documents evidencing the partnership management duties performed by the
managing general partner. Such records and documents may include, but are not limited to: accounting books and records;
tax returns; budgets and financial reports; reports required by lenders; documents related to the construction or rehabilitation
of real property; legal documents such as contracts, deeds, notes, leases, and deeds of trust; documents related to
complying with government regulations and lings; documents related to property inspections; documents related to charitable services or
benets provided or the information provided regarding such services or benets; reports prepared for the partners; bank account records;
audited annual nancial statement of the limited partnership; and property management agreement.
BOE-267-L1 (P6) REV. 15 (05-19)
Download
Save PDF to desktop
Email
Email completed PDF
Send for Signing
Email for others to sign
Print
Print document
Choose a Field
Click on a field and
select the person that should complete it
Want to add a signature?
You can add a signature field
and assign it to someone else
to sign
Choose a Field
Click on a field and
select the person that should complete it

WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF (County of Lake)

This document is locked as it has been sent for signing.

You have successfully completed this document.

Other parties need to complete fields in the document. You will recieve an email notification when the document has been completed by all parties.

This document has been signed by all parties.

Completed 6 August 2020

Message

View Audit Log
Print With Audit Log
Duplicate Document