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): October 2, 2000
WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
(Exact name of registrant as specified in its charter)
California 333-76435 33-0761517
(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)
024a.edg
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Item 7. Financial Statements and Exhibits
a. Financial Statements of Businesses Acquired
Not Applicable
b. Proforma Financial Information
Proforma Balance Sheet
Notes to Proforma Balance Sheet
c. Exhibits
10.1 Second Amended and Restated Agreement of Limited Partnership of
Pierce Street Partners Limited Partnership*
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*Previously filed.
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WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7
(A California Limited Partnership)
PROFORMA BALANCE SHEET
June 30, 2000
<TABLE>
ASSETS
Historical Proforma Proforma
Balance Adjustments Balance
----------------- ------------------ -----------------
<S> <C> <C> <C>
Cash and cash equivalents $ 6,929,346 $ 3,590,900
(293,650)
(105,515) $ 10,121,081
Funds held in escrow
disbursement account 142,786 142,786
Subscriptions receivable 696,538 105,515 802,053
Investment in limited partnerships 1,798,648 3,481,637
293,650 5,573,935
Loans receivable 154,000 154,000
Other assets 514 - 514
----------------- ------------------ -----------------
$ 9,721,832 $ 7,072,537 $ 16,794,369
================= ================== =================
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Liabilities:
Due to limited partnerships $ 265,389 $ 3,481,637 $ 3,747,026
Accrued fees and expenses due to
general partner and affiliates 654,834 - 654,834
----------------- ------------------ -----------------
920,223 3,481,637 4,401,860
----------------- ------------------ -----------------
Partners' equity (deficit):
General partner (599) (604) (1,203)
Limited partners 8,802,208 3,591,504 12,393,712
----------------- ------------------ -----------------
Total partners' equity 8,801,609 3,590,900 12,392,509
----------------- ------------------ -----------------
$ 9,721,832 $ 7,072,537 $ 16,794,369
================= ================== =================
</TABLE>
Unaudited
See Accompanying Notes to Proforma Financial Statements
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<PAGE>
WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
(A California Limited 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 7 financial statements dated June 30, 2000. WNC Housing
Tax Credit Fund VI, L.P., Series 7 is referred to in these notes as the
"Partnership."
NOTE 2 - INTRODUCTION TO PROFORMA ADJUSTMENTS
As of June 30, 2000, the Partnership had acquired limited partnership interests
in three limited partnerships. Subsequent to June 30, 2000, the Partnership has
acquired an interest in two limited partnerships: Hickory Lane Partners L.P.
(HICKORY LANE) and Pierce Street Partners L.P. (PIERCE STREET). Each owns one
apartment complex. The Partnership is negotiating to acquire limited partnership
interests in three other partnerships that each owns one apartment complex:
Ozark Properties III, L.P. (OZARK); Stroud Housing Associates Limited
Partnership(STROUD); Tahlequah Properties IV, a Limited Partnership (TAHLEQUAH).
These five investments commit the Partnership to capital contributions as
follows:
HICKORY LANE $ 633,473
PIERCE STREET 1,527,208
OZARK 314,040
STROUD 631,690
TAHLEQUAH 375,226
-----------------------
TOTAL $ 3,481,637
=======================
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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 $3,590,900 reflects the net proceeds from
June 30 to October 2, 2000 from issuance of 4,315 units of limited partners'
capital ($4,315,000 less notes receivable and commissions and offering costs of
$120,000 and $604,100, respectively.) The third adjustment to cash and the
adjustment to subscriptions receivable of $105,515 reflects the increase in
subscriptions receivable June 30 to October 2, 2000. The adjustment to
investment in limited partnerships and the first adjustment to due to limited
partnerships of $3,481,637 reflects the Partnership's acquisition of the five
limited partnership interests as if the Partnership's date of acquisition was
June 30, 2000. The second adjustment to investment in limited partnerships and
the second adjustment to cash of $293,650 reflects the acquisition fee from the
proceeds raised from June 30, to October 2, 2000.
The five limited partnerships 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.
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<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 7
Date: December 15, 2000 By: WNC & Associates, Inc.,
General Partner
By: /s/ DAVID N. SHAFER
David N. Shafer,
Executive Vice President
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