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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
JUNE 7, 2000
(Date of Report)
MANUFACTURED HOME COMMUNITIES, INC.
(Exact name of registrant as specified in its Charter)
1-11718
(Commission File No.)
MARYLAND 36-3857664
(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
TWO NORTH RIVERSIDE PLAZA, CHICAGO, ILLINOIS 60606
(Address of principal executive offices) (Zip Code)
(312) 279-1400
(Registrant's telephone number, including area code)
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ITEM 5. OTHER MATTERS
On May 18, 2000 the California Superior Court approved a settlement
agreement in connection with the dissolution proceeding of Ellenburg Capital
Corporation (ECC) and its affiliated partnerships. In connection with the ECC
dissolution proceeding, MHC previously acquired 37 communities from ECC and its
affiliated partnerships. The settlement agreement resulted in MHC receiving
gross proceeds of $72.5 million. MHC will report non-recurring income of $12.3
million.
As part of the settlement agreement, MHC sold three communities: Mesa Regal
RV Resort, an 2,005-site community in Mesa, Arizona, Mon Dak, an 161-site
community in Mesa, Arizona and Naples Estates, an 484-site community in Naples,
Florida, for an aggregate sale price of $59.0 million. The Company will report
non-recurring income of $9.3 million on these sales. In addition, MHC received
the return of escrow funds totaling $13.5 million, $3.0 million of which will be
reported as non-recurring income.
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SIGNATURE
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.
MANUFACTURED HOME COMMUNITIES, INC.
BY: /s/ John M. Zoeller
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John M. Zoeller
Vice President, Treasurer and
Chief Financial Officer
BY: /s/ Mark Howell
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Mark Howell
Principal Accounting Officer and
Assistant Treasurer
DATE: June 7, 2000
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