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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 17, 1997
(January 31, 1997)
Commission File Number 0-18952
NTS-PROPERTIES PLUS LTD.
(Exact name of registrant as specified in its charter)
Florida 61-1126478
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
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Item 5. Other Items
As was previously reported in the Form 8-K filed with the Commission on December
23, 1996, the Partnership has received notice that Philip Crosby Associates,
Inc. (Crosby) does not intend to pay full rental due under its lease from and
after January 1997. Crosby leases the majority of the space in University
Business Center Phase II. The business center is owned by the
Lakeshore/University II Joint Venture of which the Partnership has a 12%
interest.
The Joint Venture will pursue legal resolution of this situation and will seek
to place new tenants in the space as quickly as possible. At this time, the
future leasing and tenant finish costs which will be required to obtain new
tenants are unknown.
In order to conserve cash, the repurchase of Partnership Units will be
interrupted. This step is being taken until it is clear that, in the general
partner's opinion, the Partnership has the necessary cash reserves to meet
future leasing and tenant finish costs and has rebuilt cash reserves to meet the
ongoing needs of the Partnership.
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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 thereunto duly authorized.
NTS-PROPERTIES PLUS LTD.
(Registrant)
BY: NTS-Properties Plus Associates
BY: NTS Capital Corporation,
General Partner
/s/ John W. Hampton
John W. Hampton
Senior Vice President
Date: February 17, 1997
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