SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A-1
AMENDMENT NO. 1 TO FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): October 1, 1997
Patriot Tax Credit Properties L.P., f/k/a Prudential-Bache Tax Credit
Properties L.P.
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or other Jurisdiction of Incorporation)
0-20638 13-3519080
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(Commission File Number) (IRS Employer Identification Number)
625 Madison Avenue, New York, NY 10022
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (212) 421-5333
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report
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Item 5 of the Form 8-K filed on Oct 15, 1997 is hereby amended as follows:
Item 5. Other Events
The Partnership Agreement was amended to change the name of the
Partnership to "Patriot Tax Credit Properties L.P.", a Delaware Limited
Partnership. The Partnership's new place of business will be 625 Madison Avenue,
New York, New York 10022.
The Partnership Agreement was additionally amended to confirm that PBP
will continue to enjoy the benefits of the indemnification provisions set forth
in the Partnership Agreement.
Finally, the Partnership Agreement was amended to reflect (a) the
reduction in the general partner's maximum participating interest in cash flow
from 0.5% annually of invested assets to 0.375% annually; (b) the reduction by
50% of the general partner's residual interest in the Partnership comprised of
(x) subordinated interest in disposition proceeds and (y) interest in
distributions of sale or refinancing proceeds; and (c) corresponding reductions
in the general partner's interest in profits and losses. Further, pursuant to
the Partnership Agreement, the PBP and PB SLP forgave all deferred and unpaid
fees due to them by the Partnership and the Local Partnerships. The aggregate
amount of such deferred and unpaid fees was $1,048,871 as of September 30, 1997.
A copy of the Partnership Agreement Amendment Number 1 is attached as an
exhibit to this Form 8-K.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Patriot Tax Credit Properties, L.P.
(Registrant)
By RCC Partners 96, L.L.C., general partner
BY: /s/ Alan P. Hirmes
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Alan P. Hirmes
Senior Vice President
October 17, 1997
