<PAGE> 1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(X) Form 10-Q
For Period Ended................September 30, 1999
Part I - Registrant Information
GRANITE DEVELOPMENT PARTNERS, L.P.
1250 Terminal Tower
50 Public Square
Cleveland, Ohio 44113
Part II - Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate).
(X) (a) The reasons described in reasonable detail in Part III of this Form
could not be eliminated without unreasonable effort or expense;
(X) (b) The subject quarterly report on Form 10-Q will be filed on or
before the fifth calendar day following the prescribed due date; and,
( ) (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Part III - Narrative
State below in a reasonable detail the reasons why the Form 10-Q could not be
filed within the prescribed time period.
The Form 10-Q that is due November 15, 1999 has been delayed due to an
identification of cost overruns in one of the registrant's investments during
the third quarter ended September 30, 1999. The significant additional work
necessary to quantify the amount of these cost overruns, and to quantify that
effect on the registrant's financial position has created the need for
additional time to file.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Mark Ternes 216 416-3778
- ----------- --- --------
(Name) (Area Code) (Telephone number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months (or for such shorter period) that the
registrant was required to file such report(s) been filed? If answer is no,
identify report(s).
(X) Yes ( ) No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
( ) Yes (X) No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and , if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
GRANITE DEVELOPMENT PARTNERS, L.P.
- ----------------------------------
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: November 16, 1999 By: /s/ Robert F. Monchein
----------------------------
Robert F. Monchein
President
FC-Granite, Inc., the general
partner of Granite Development
Partners, L.P.
