SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
AMENDMENT NO. 1 TO
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 14, 1999
WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 6
(Exact name of registrant as specified in its charter)
California 333-24111 33-0761578
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3158 Redhill Avenue, Suite 120, Costa Mesa, California 92626
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 662-5565
N/A
Former name or former address, if changed since last report)
<PAGE>
Item 7. Financial Statements and Exhibits
a. Financial Statements of Businesses Acquired.
Inapplicable.
b. Proforma Financial Information
Proforma Balance Sheet, December 31, 1998 (Unaudited)
Notes to Proforma Balance Sheet
c. Exhibits
10.1 Amended and Restated Agreement of Limited Partnership of
Ottawa I Limited Partnership (1)
10.2 Amended and Restated Agreement of Limited Partnership of
Preservation Partners I Limited Partnership (1)
------------------
(1) Previously filed.
2
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WNC HOUSING TAX CREDIT FUND VI, L.P., Series 6
(A California Limited Partnership)
(A Development-Stage Partnership)
PROFORMA BALANCE SHEET
December 31, 1998
ASSETS
<TABLE>
Historical Proforma Proforma
Balance Adjustments Balance
<S> <C> <C> <C>
Cash and cash equivalents $ 372,505 $ 1,543,500
(126,175)
44,473 $ 1,834,303
Subscriptions receivable 1,030,915 (44,473) 986,442
Investment in limited partnerships, net 6,440,762 2,881,093
126,175 9,448,030
Loan receivable 50,000 (50,000)
Other assets - - -
----------- ----------- -----------
$ 7,894,182 $ 4,374,593 $ 12,268,775
========= ========== ==========
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES:
Notes payable to limited partnerships $ 1,734,427 $ 2,881,093
(50,000) $ 4,565,520
Loan payable 113,269 113,269
Accrued fees and expenses due to
General partner and affiliates 173,323 - 173,323
------------
2,021,019 2,831,093 4,852,112
---------
PARTNERS' EQUITY (DEFICIT)
General partner (7,977) (2,590) (10,567)
Limited partners 5,881,140 1,546,090 7,427,230
---------
Total partners' equity 5,873,163 1,543,500 7,416,663
--------- ---------
$ 7,894,182 $ 4,374,593 $ 12,268,775
=========== ==========
</TABLE>
-Unaudited-
See Accompanying Notes to Proforma Balance Sheet
FS-1
<PAGE>
WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 6
(A California Limited Partnership)
(A Development-Stage Partnership)
NOTES TO UNAUDITED PROFORMA BALANCE SHEET
NOTE 1 - GENERAL
The information contained in the following notes to the proforma balance sheet
is condensed from that which appears in the financial statements. Accordingly,
this proforma balance sheet should be reviewed in conjunction with the financial
statements and related notes thereto contained in the WNC Housing Tax Credit
Fund VI, L.P., Series 6 financial statements dated December 31, 1998. WNC
Housing Tax Credit Fund VI, L.P., Series 6 is referred to in these notes as the
"Partnership."
NOTE 2 - INTRODUCTION TO PROFORMA ADJUSTMENTS
As of December 31, 1998, the Partnership had acquired a limited partnership
interest in four limited partnerships: Trenton Village Apartments., L.P.
(TRENTON); United Development Co., L.P. - 97.0 (UNITED 97.0); Desloge Associates
I, L.P. (DESLOGE); and Brighton Ridge Apartments, L.P. (BRIGHTON RIDGE). Each
owns one apartment complex. Subsequent to December 31, 1998, the Partnership has
acquired an interest in two limited partnerships: Ottawa I, L.P. (OTTAWA) and
Preservation Partners I, L.P. (PRESERVATION). OTTAWA owns one apartment complex
and PRESERVATION owns three: the Autumn Ridge I Apartments (PRESERVATION
AUTUMN), the Pontiac "A" Apartments (PRESERVATION PONTIAC) and the Shumway
Apartments (PRESERVATION SHUMWAY). The Partnership is negotiating to acquire a
limited partnership interest in one other partnership that owns one apartment
complex: West Mobile County Housing, Ltd. (WEST MOBILE). These investments
commit the Partnership to capital contributions as follows:
OTTAWA $ 402,847
PRESERVATION AUTUMN 166,315
PRESERVATION PONTIAC 166,084
PRESERVATION SHUMWAY 182,299
WEST MOBILE 1,963,548
---------
$ 2,881,093
FS-2
<PAGE>
NOTE 2 - INTRODUCTION TO PROFORMA ADJUSTMENTS (Continued)
In accordance with Article 11, Proforma Financial Information of Regulation S-X
of the Securities and Exchange Commission, the accompanying proforma balance
sheet was computed assuming that the limited partnerships discussed above were
acquired at the end of the period presented. The first adjustment to cash and
the adjustment to partners' equity of $1,543,500 reflects the net proceeds from
December 31, 1998 to January 29, 1999 from issuance of 1,850 units of limited
partners' capital ($1,850,000 less notes receivable and commissions and offering
costs of $47,500 and $259,000, respectively.) The second adjustment to cash and
the adjustment to subscriptions receivable of $44,473 reflects the collection of
subscriptions receivable from the above subscriptions. The adjustment to
investment in limited partnerships and the first adjustment to notes payable to
limited partnerships of $2,881,093 reflects the Partnership's acquisition of the
three limited partnership interests as if the Partnership's date of acquisition
was December 31, 1998. The second adjustment to investment in limited
partnerships and the third adjustment to cash of $126,175 reflects the
acquisition fee from the proceeds raised from December 31, 1998 to January 29,
1999. The second adjustment to notes payable and the adjustment to loan
receivable of $50,000 reflects the application of the loan receivable to the
note payable upon acquisition of the limited interest in PRESERVATION.
The three limited partnerships (five apartment complexes) were under
construction or rehabilitation during the period presented and had no operations
which should be reported. The Partnership will use the equity method of
accounting to account for its investments in these local limited partnerships.
FS-3
<PAGE>
SIGNATURES
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.
WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 6
Date: May 6, 1999 By: WNC & Associates, Inc.,
General Partner
By: /s/ JOHN B. LESTER, JR.
John B. Lester, Jr.,
President
