UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) October 28, 1998
CONCORD MILESTONE PLUS, L.P.
(Exact Name of Registrant as Specified in its Charter)
Delaware
(State or Other Jurisdiction of Incorporation or Organization)
000-16757 52-1494615
(Commission File Number) (I.R.S. Employer Identification No.)
150 East Palmetto Park Road, 4th Floor, Boca Raton, Florida 33432
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (561) 394-9260
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant.
Concord Milestone Plus, L.P. (the "Partnership"), is engaged in the business of
owning and operating three shopping centers. On October 28, 1998, the
Partnership dismissed the accounting firm of Deloitte & Touche LLP, which has
previously been engaged as the Partnership's independent auditor to audit the
Partnership's financial statements. Deloitte & Touche LLP's reports on the
Partnership's balance sheets as of December 31, 1997 and 1996, and the related
statements of revenues and expenses, partners' capital and cash flows for each
of the three years in the period ended December 31, 1997 did not contain any
adverse opinion or disclaimer of opinion, and such reports were not modified or
qualified as to uncertainty, audit scope or accounting principles. Furthermore,
during the above mentioned periods and the interim periods ended June 30, 1998
and through the date of this filing, the Partnership had no disagreements with
Deloitte & Touche LLP on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure or any reportable
event, which disagreements, if not resolved to the satisfaction of Deloitte &
Touche LLP would have caused it to make reference to the subject matter of the
disagreements in connection with its reports.
The Partnership has never been advised by the Deloitte & Touche LLP that (a) the
internal controls necessary to develop reliable financial statements does not
exist; (b) management's representations would no longer be relied on or that the
auditors were unwilling to be associated with the financial statements prepared
by management; (c) there was a need to expand significantly the scope of the
audit, or that any information which had come to its attention that, if further
investigated may: (i) materially impact the fairness or reliability of either a
previously issued audit report or the underlying financial statements or the
financial statements issued or to be issued covering the year ending December
31, 1998, or (ii) cause it to be unwilling to rely on management's
representation or to be associated with the registrant's financial statements
and (d) information has come to the accountant's attention that it has concluded
materially impacts the fairness or reliability of either (i) a previously issued
audit report or the underlying financial statement, or (ii) the financial
statements issued or to be issued for the year ending December 31, 1998.
The Partnership has provided the above disclosure to Deloitte & Touche LLP, and
requested that they furnish the Partnership with a letter addressed to the
Securities and Exchange Commission, (the "SEC") stating whether they agree with
the above statements. A copy of Deloitte & Touche LLP's letter in response to
this request is attached as an exhibit to this report.
On November 2, 1998 the Partnership retained the independent public accounting
firm of Ahearn, Jasco + Company, P.A. as its new independent auditors to audit
the Partnership's financial statements for the fiscal year ending December 31,
1998. There have been no consultations during the period ended June 30, 1998
through the date of this filing or the years ended December 31, 1997 and 1996
between the Partnership and Ahearn, Jasco + Company, P.A. regarding either the
application of accounting principles to a specified transaction, either complete
or proposed; or the type of audit opinion that might be rendered on the
financial statements of the Partnership.
The Partnership has provided Ahearn, Jasco + Company, P.A. with a copy of this
report, and Ahearn, Jasco + Company, P.A. has reviewed such report prior to its
filing with the SEC.
The decision to change accounting firms as the Partnership's independent auditor
to audit the Partnership's financial statements was approved by the Audit
Committee of the Board of Directors of CM Plus Corporation, General Partner of
Concord Milestone Plus, L.P., on October 28, 1998.
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<PAGE>
Item 7. Financial Statements, Pro-Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit Number Description
16.1 Letter from Deloitte & Touche LLP,
dated November 4, 1998, to the
Securities and Exchange Commission.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: November 4, 1998 CONCORD MILESTONE PLUS, L.P.
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(Registrant)
BY: CM PLUS CORPORATION
General Partner
By: /S/ Patrick Kirse
Patrick Kirse
Treasurer and Controller
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Exhibit 16.1
November 4, 1998
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4 of Form 8-K of Concord
Milestone Plus, L.P. dated November 4, 1998 insofar as they relate to us.
Yours truly,
/s/ Deloitte & Touche LLP
