-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EJuSF2xy3ugz1ZzzCq4NZqDOD6hdBV82hgDf1jYcIkgezliWm5jYAoc0/SzBXpsQ bR8giCRBTKdtKJddBN0sWQ== 0001353173-08-000004.txt : 20080212 0001353173-08-000004.hdr.sgml : 20080212 20080212142113 ACCESSION NUMBER: 0001353173-08-000004 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080212 DATE AS OF CHANGE: 20080212 EFFECTIVENESS DATE: 20080212 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L P IV CENTRAL INDEX KEY: 0000845035 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF APARTMENT BUILDINGS [6513] IRS NUMBER: 043044617 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: 1934 Act SEC FILE NUMBER: 000-19765 FILM NUMBER: 08597537 BUSINESS ADDRESS: STREET 1: 101 ARCH ST 16TH FLR CITY: BOSTON STATE: MA ZIP: 02110-1106 BUSINESS PHONE: 6174393911 MAIL ADDRESS: STREET 2: 101 ARCH STREET 16TH FL CITY: BOSTON STATE: MA ZIP: 021101106 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Everest Housing Investors 2, LP CENTRAL INDEX KEY: 0001353173 IRS NUMBER: 954793409 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: 199 S. LOS ROBLES AVE., #200 CITY: PASADENA STATE: X1 ZIP: 91101 BUSINESS PHONE: 626-585-5920 MAIL ADDRESS: STREET 1: 199 S. LOS ROBLES AVE., #200 CITY: PASADENA STATE: X1 ZIP: 91101 DFAN14A 1 bf4_dfan14a021208ltr.htm LTR TO LIMITED PARTNERS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

(Rule 14a-101)

 

INFORMATION REQUIRED IN CONSENT SOLICITATION STATEMENT

SCHEDULE 14A INFORMATION

Consent Solicitation Statement Pursuant to Section 14(a) Securities

Exchange Act of 1934

 

Filed by the Registrant

/  /

 

Filed by a party other than the Registrant

/X/

 

 

Check the appropriate box:

 

/  /

Preliminary Consent Solicitation Statement

 

/   /

Confidential, for Use of the Commission Only

(as permitted by Rule 14a-6(e)(2))

 

/  /

Definitive Consent Solicitation Statement

 

/X/

Definitive Additional Materials

 

/  /

Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12

 

BOSTON FINANCIAL QUALIFIED HOUSING TAX CREDITS L.P. IV

(Name of Registrant as Specified in Its Charter)

 

Everest Housing Investors 2, LP

                (Name of Person(s) Filing Consent Solicitation Statement, if other than the Registrant)

 

Payment of filing fee (Check the appropriate box):

 

/X/

No fee required

 

/  /

Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

 

 

(1)

Title of each class of securities to which transaction applies:

 

(2)

Aggregate number of securities to which transactions applies:

 

(3)

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined.)

 

(4)

Proposed maximum aggregate value of transaction:

 

(5)

Total Fee paid:

 

 

 


/  /

Fee paid previously with preliminary materials

 

/  /

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

 

(1)

Amount previously paid:

 

(2)

Form, Schedule or Registration Statement No.:

 

(3)

Filing party:

 

(4)

Date filed:

 

 

 


Everest Housing Investors 2, LP

199 S. Los Robles Ave., Suite 200

Pasadena, California 91101

 

February 12, 2008

 

RE:

GENERAL PARTNERS REFUSE TO RESPOND TO LEGITIMATE QUESTIONS

 

Dear Limited Partner:

 

We received the Notice of Meeting from the general partners of Boston Financial Qualified Housing Tax Credits L.P. IV (the “Partnership”) – you should have also received it. We find the general partners’ conduct to be outrageous. As a limited partner, you should be very troubled by the dismissive attitude that the general partners have taken to legitimate questions about their management of the Partnership.

 

As you know from our Solicitation of Consents dated November 16, 2007, we are seeking the approval by written consent of the limited partners (the “Limited Partners”) of Boston Financial Qualified Housing Tax Credits L.P. IV, a Massachusetts limited partnership (the “Partnership”), to remove the current general partners (Arch Street VIII, Inc. and Arch Street IV L.P., affiliates of MMA Financial, Inc. (“MMA”)) and to elect Everest Housing Management, LLC, a California limited liability company (“New GP)”, as the successor general partner of the Partnership.

 

The current general partners have simply refused to provide any further details about their improper banking relationship and their calculation of the losses the Partnership suffered as a result.

Why would they continue to hide that information if they have really refunded the proper amount?

 

Now a limited partner has called a Partnership meeting, apparently in order to force the general partners to account for themselves, and they refuse to attend the Partnership meeting, even though it is scheduled to take place in their very own building!

 

The general partners are being asked to provide further details about the substantial legal fees that they have incurred, and the law firm providing such services. Why would they refuse to respond to questions about one of the single greatest expenses of the Partnership?

 

The general partners are also being asked whether or not the “unaffiliated buyers” of Partnership assets were, in fact, ex-employees and/or principals of the general partners or their parent company. Selling assets to such persons would raise significant concerns about past disclosure, potential conflicts of interest, the failure of the general partners to collect contingent payments, and whether or not the Partnership has been receiving full value for the assets that have been sold. Why would they refuse to respond to such a potentially important question?

 

We believe that we would do a better job at liquidating the remaining assets. We are certain we would do a better job of answering legitimate questions from limited partners. We are also certain that we will investigate the conduct of the current general partners and hold them accountable for any wrongdoing we uncover.

 

 

 


 

All limited partners should be very concerned that the current general partners continually refuse to provide details about their handling of Partnership cash and assets.

 

We urge you to carefully read the Consent Solicitation Statement previously sent to you, and to vote. Your vote is important. Failure to vote, abstentions and broker non-votes will have the same effect as a vote against the Proposal. To be sure your vote is represented, please sign, date and return the enclosed GREEN Consent of Limited Partner form as promptly as possible in the enclosed, prepaid envelope. If you have any questions, please contact Everest at: (800) 611-4613.

 

We are extending the Expiration Date. The solicitation of Consents will expire at 5:00 p.m. Eastern Time on the earlier to occur of the following dates (the “Expiration Date”): (i) March 21, 2008 or such later date to which Everest determines to extend the solicitation or (ii) the date Everest determines the Required Consents are received. Everest reserves the right to extend this solicitation of Consents for such period or periods as it may determine in its sole discretion from time to time; provided, however that it will not extend this solicitation past October 15, 2008.

 

 

Very Truly Yours,

 

 

 

EVEREST HOUSING INVESTORS 2, LP

 

 

 

 

 

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