BOE-267-L1

Source: https://www.boe.ca.gov/proptaxes/pdf/sample-boe267L1.pdf

BOE-267-L1 (P1) REV. 18 (05-25) THIS PAGE WATERMARKED SAMPLE ONLY CONTACT ASSESSOR FOR ACTUAL FORM WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT, LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP This Claim is Filed for Fiscal Year 20______ - 20______ This claim must be filed by 5:00 p.m., February 15.

This is a Supplemental Affidavit filed with BOE-267, Claim for Welfare Exemption (First Filing) BOE-267-A, Claim for Welfare Exemption (Annual Filing) If filed with BOE-267-A, check applicable boxes below Secretary of State Form LP-2 filed within the last year Limited Partnership Agreement, or other agreement, amended within the last year SECTION 1. IDENTIFICATION OF LIMITED PARTNERSHIP (LP) AND PROPERTY

Name of Limited Partnership

Property Location (number and street) Date Property Acquired by LP

City, County, State, Zip Code Assessor’s Parcel/Assessment Number(s) Supplemental Clearance Certificate(SCC) No. (Provide copy of certificate with thisFormclaim and a copy of the Finding Sheet issued by the State Board of Equalization (Board) if filing with BOE-267.) If you do not have an SCC, have you filed a claim for an SCC? Yes No If no, see instructions for information on obtaining an SCC claim form ONLY SECTION 2. IDENTIFICATION OF MANAGING GENERAL PARTNER (MGP) Name of Organization Corporate ID No. (or LLC No.) Actual Mailing address (number and street) Date Admitted into LP as GP

City, State, Zip Code for

SECTION 3. GOVERNMENT FINANCING OR TAX CREDITS; USE RESTRICTION

As to the low-income housing property for which this claim is made, the general partners of the limited partnership, including the managing general partner, certify that (check all applicable boxes): A. There is an enforceable and verifiable agreement with a public agency or a recorded deed restriction that restricts the project's usage and that provides that the units designated for use by lower-income households are continuously available to or occupied by lower-income SAMPLE households at rents that do not exceed those prescribed by section 50053 of the Health and Safety Code, or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance. For property tax exemption purposes, a unit is considered occupied by a lower income household if the occupants were qualified when theirAssessoroccupancy began, if the unit is rent restricted and the household income is not above:

(1) 100% of an area median income ("over-income" tenants) and the property is subject to an enforceable and verifiable agreement with
a public agency. (see Revenue and Taxation Code section 214(g)(2)(A)(iii)(II)) OR
(2) 140% of area median income ("over-income" tenants) and the property receives federal low-income housing tax credits or is owned
by a community land trust (CLT) and whose property is leased to a lower income household. (see Revenue and Taxation Code
section 214(g)(2)(A)(iii)(I) or (iv)).

If you are filing this supplemental affidavit with BOE-267 (First Filing), submit a copy of the regulatory agreement or recorded deed restriction. B. The fundsContactwhich would have been necessary to pay property taxes are used to maintain the affordability of, reduce rents otherwise necessary for, the
units occupied by lower-income households.
C. At least one of the following criteria is applicable (check one):
(1) The acquisition, construction, rehabilitation, development, or operation of the property is financed with government financing in the form of
tax-exempt mortgage revenue bonds; qualified 501(c)(3) bonds; general obligation bonds; local, state, or federal loans or grants; or any
loan insured, held, or guaranteed by the federal government; or project–based federal funding under section 8 of the Housing Act of 1937.
(The term “government financing” does not include federal rental assistance through tenant rent-subsidy vouchers under section 8 of the
Housing Act of 1937.)

(2) The owner is eligible for and receives state low-income housing tax credits pursuant to Revenue and Taxation sections 12205, 12206,
17057.5, 17058, 23610.4, and 23610.5 or federal low-income housing tax credits pursuant to section 42 of the Internal Revenue
Code.

THIS DOCUMENT IS SUBJECT TO PUBLIC INSPECTION

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SECTION 4. HOUSEHOLD INFORMATION

A1. Eligibility Based on Family Household Income - Lower Income Households Section 214(g) of the Revenue and Taxation Code provides that low-income housing property owned and operated by a limited partnership with a nonprofit corporation or eligible limited liability company as managing general partner can qualify for the Welfare Exemption from property taxes to the extent that the income of the households residing therein do not exceed amounts listed below: (See Section 4.A2 for income limit exception)

NO. OF PERSONS MAXIMUM NO. OF PERSONS MAXIMUM NO. OF PERSONS MAXIMUM NO. OF PERSONS MAXIMUM
IN HOUSEHOLD INCOME IN HOUSEHOLD INCOME IN HOUSEHOLD INCOME IN HOUSEHOLD INCOME
1 3 5 7
2 4 6 8

A2. Eligibility Based on Family Household Income – 100% or 140% of Area Median Income (AMI) Section 214(g)(2)(A)(iii) of the Revenue and Taxation Code provides in the case of an owner of property that is subject to an enforceable and verifiable agreement with a public agency can qualify for the welfare exemption from property taxes to the extent that the income of the households residing therein do not exceed amounts listed below: If you have units meeting the criteria in A2, that do not meet the criteria of A1 upon which you seek exemption, check here to confirm the property is subject to an enforceable and verifiable agreement with a public agency and submit BOE-267-L4, Welfare Exemption Supplemental Affidavit, Households Exceeding Low-Income Limits - "Over-Income" Tenant Data (100% AMI). BOE-267-L4 is confidential. Form

NO. OF PERSONS NO. OF PERSONS NO. OF PERSONS NO. OF PERSONS 100% AMI 100% AMI 100% AMI 100% AMI IN HOUSEHOLD IN HOUSEHOLD IN HOUSEHOLD IN HOUSEHOLD 1 3 5 7 ONLY 2 4 6 8 Note: If a dollar amount is not entered for each number of persons, contact the County Assessor for the figures. The amounts are different for each county and change annually. To qualify all or a portion of the property for the exemption, you must have: (1) a signed statement Actual for each household that qualifies (you should keep the statement for future audits) and (2) you must complete parts 4B, 4C, and Section 5 below. Section 214(g)(2)(A)(iii) or (iv) of the Revenue and Taxation Code provides that under certain circumstances, property eligible for and receives federal low income housing tax credits (LIHTC) pursuant to section 42 of the InternalforRevenue Code or owner of property that is a community land trust (CLT) and whose property is leased to a lower income household, can qualify for the welfare exemption from property taxes to the extent that the income of the households residing therein do not exceed amounts listed below:

If you have units meeting the criteria in A2, that do not meet the criteria of A1 upon which you seek exemption, check here to confirm the property

has federal LIHTC or a CLT whose property is leased to a lower income household and submit BOE-267-L3, Welfare Exemption Supplemental Affidavit, Households Exceeding Low-Income Limits - "Over-Income" Tenant Data (140% AMI). BOE-267-L3 is confidential.

NO. OF PERSONS NO. OF PERSONS NO. OF PERSONS NO. OF PERSONS 140% AMI 140% AMI 140% AMI 140% AMI IN HOUSEHOLD SAMPLEIN HOUSEHOLD IN HOUSEHOLD IN HOUSEHOLD 1 3 5 7 2 4 6 8 Assessor Note: If a dollar amount is not entered for each number of persons, contact the County Assessor for the figures. The amounts are different for each county and change annually. To qualify all or a portion of the property for the exemption, you must have: (1) a signed statement for each household that qualifies (you should keep the statement for future audits); and (2) you must complete parts 4B, 4C, and Section 5 below.

B. List of Qualified Households Attach list showing desired information for only those households that qualify. Identify which units qualify under the 100% or 140% AMI criteria indicated in Section 4.A2. Also, please identify the vacant units reserved for low-income households. Provide the following information: address/unit number, number of persons in household, maximum income for household. C. Number of Units Serving Lower Income Households Contact Note: Under section 214(g), the exemption percentage is the total number of "units serving lower income households" divided by the total number of residential units. This percentage is applied to the entire property including "related facilities". EXAMPLE ACTUAL

1. Number of residential units designated for use by or serving lower income households - lower income limits. 88

2. Number of residential units occupied by households exceeding lower income limits but do not exceed 100% AMI 2 ("over-income" tenants), as reported on BOE-267-L4 or 140% AMI ("over-income" tenants), as reported on BOE-267-L3.

3. Total number of qualified households (C1 + C2) 90

4. Total number of residential units in property. 100

5. Percentage which the number of "units serving lower income households" is of the total number of residential units. 90% (C3 / C4 above) (90/100)

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SECTION 5. PROPERTY USE. Does this property include commercial space? Yes No Give a brief description of its use:

SECTION 6. MANAGING GENERAL PARTNER REQUIREMENTS

A. Managing General Partner Designation.
(1) Limited partnership agreement expressly designates the nonprofit corporation as the managing general partner.
(2) Managing general partner is authorized to receive a partnership management fee or similar form of compensation payable in the amount
and manner set forth in the limited partnership agreement or other agreement executed by all of the general partners.
(3) Managing general partner has material participation in the control, management and direction of the limited partnership’s business (see
Section 6.B.). (4) Officers and directors of the for-profit general partners, for-profit limited partners, or any of its for-profitFormaffiliates, do not, as individuals or
collectively, have a controlling vote or majority interest in the managing general partner.

B. Material Participation. The managing general partner is a general partner that has “materialONLYparticipation” in the control, management, and direction of the limited
partnership’s business, in that the managing general partner has a right to vote in all the major decisions, including any actions which require
a vote of a majority in interest of the general partner; performs substantial management duties (at least 5 of the 12 duties listed in Section
6.C.); directly or indirectly, under its supervision, manages the limited partnership; annually conducts a physical inspection of the low-income housing property to ensure that the property is being used as low-income housingActualand meets all of the requirements of the welfare exemption
for low-income housing properties; annually submits a certification to the County Assessor of the county in which the property is located that
the low-income housing property meets all Welfare Exemption requirements for low-income housing properties. C. Substantial Management Duties. for

The managing general partner actually performs at least 5 of 12 following partnership management duties:
(1) Managing general partner rents, maintains and repairs the low-income housing property, or if such duties are delegated to a property
management agent, participates in hiring and overseeing the work of the property management agent.
(2) Managing general partner participates in hiring and overseeing the work of all persons necessary to provide services for the management
and operation of the limited partnership business.
(3) Managing general partner executes and enforces all contracts executed by the limited partnership. (4) Managing generalSAMPLEpartner executes and delivers all partnership documents on behalf of the limited partnership.
(5) Managing general partner prepares or causes to be prepared all reports to be provided to the partners or lenders on a monthly,
quarterly, or annual basis consistent with the requirements of the limited partnership agreement.
(6) Managing general partner coordinates all present and future development, construction, or rehabilitation of low-income housing property that is the subject of the limitedAssessorpartnership agreement.
(7) Managing general partner monitors compliance with all government regulations and files or supervises the filing of all required documents
with government agencies.
(8) Managing general partner acquires, holds, assigns or disposes of property or any interest in property.
(9) Managing general partner borrows money on behalf of the limited partnership, encumbers limited partnership assets, places title in the
name of the nominee to obtain financing, prepays in whole or in part, refinances, increases, modifies or extends any obligation.
(10) Managing general partner pays organizational expenses incurred in the creation of the partnership and all operational expenses.
(11) Managing general partner determines the amount and timing of distributions to partners and establishes and maintains all required
reserves.
(12) Managing general partner ensures that charitable services or benefits, such as vocational training, education programs, childcare and
after-school programs, cultural activities, family counseling, transportation, meals, and linkages to health and/or social services are Contactprovided or information regarding charitable services or benefits are made available to the low-income housing tenants.

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SECTION 7. DELEGATION OF AUTHORITY

A. The person making this claim certifies that the limited partnership agreement (please check applicable box):
Contains a delegation of authority clause
Does not contain a delegation of authority clause
B. If the limited partnership agreement contains a delegation of authority clause, such clause provides that:

The managing general partner may not delegate any of its partnership management duties, as identified in Property Tax Rule 140.1, subdivision
(a)(10) and defined in Section 6; or
The managing general partner may delegate its partnership management duties, as identified in Section 6, to persons who under its supervision,
may perform such duties for the partnership subject to the supervision by the managing general partner.
C. The managing general partner has delegated some or all of its partnership management duties identified in Section 6:

Yes No

If yes, please list each duty delegated, the date delegated, and the person or entity performing such duty (attach additional pages if necessary):
ONLYForm

THIS STATEMENT IS SUBJECT TO AUDIT Actual

SECTION 8. Certification:

The form must be certified by the managing general partner and all of the general partners of the limited partnership (please attach additional pages if necessary). for

CERTIFICATION

I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing and all information herein, including any accompanying statements or materials, is true, correct, and complete to the best of my knowledge and belief.

NAME OF LIMITED PARTNERSHIP

LOCATION OF LIMITED PARTNERSHIP PROPERTY SAMPLE

NAME AND TITLE OF MANAGING GENERAL PARTNER (typed or printed) TELEPHONE DATE ( ) Assessor SIGNATURE OF MANAGING GENERAL PARTNER EMAIL ADDRESS

NAME AND TITLE OF GENERAL PARTNER (typed or printed) TELEPHONE DATE ( ) SIGNATURE OF GENERAL PARTNER EMAIL ADDRESS

NAME AND TITLE OF GENERAL PARTNER (typed or printed) TELEPHONE DATE ( ) SIGNATURE OF GENERAL PARTNER E-MAIL ADDRESS Contact

NAME AND TITLE OF GENERAL PARTNER (typed or printed) TELEPHONE DATE ( ) SIGNATURE OF GENERAL PARTNER EMAIL ADDRESS

NAME AND TITLE OF GENERAL PARTNER (typed or printed) TELEPHONE DATE ( ) SIGNATURE OF GENERAL PARTNER E-MAIL ADDRESS

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INSTRUCTIONS FOR FILING WELFARE EXEMPTION SUPPLEMENTAL AFFIDAVIT LOW-INCOME HOUSING PROPERTY OF LIMITED PARTNERSHIP

FILING OF AFFIDAVIT This affidavit is required under the provisions of sections 214(g), 214.15, 251, and 254.5 of the Revenue and Taxation Code and must be filed when seeking exemption on low-income housing property owned and operated by a limited partnership. The income of the occupants must not exceed certain limits (see section 4 of the claim form). This affidavit supplements the claim for Welfare Exemption and must be filed with the county assessor by February 15 to avoid a late filing penalty under section 270. If you do not complete and file this form, you may be denied the exemption. The claimant should provide each household living on the property with a copy of BOE-267-L-A, Lower Income Households - Family Household Income Reporting Worksheet (140% AMI) or BOE-267-L-B, Lower Income Households – Family Household Income Reporting Worksheet (100% AMI). The organization claiming the exemption keeps the completed, signed statements in case of further audit. Do not submit the worksheets with your filing.

FISCAL YEAR The fiscal year for which an exemption is sought must be entered correctly. The proper fiscal year follows the lien date (12:01 a.m., January Form

1. as of which the taxable or exempt status of the property is determined. For example, a person filing a timely claim in February 2018 would enter “2018-2019” on line four of the claim; a “2017-2018” entry on a claim filed in February 2018 would signify that a late claim was being filed for the preceding fiscal year. ONLY SECTION 1. Identification of Limited Partnership (LP) and Property. Identify the name of the limited partnership that owns the low-income housing property, location of the low-income housing property, county in which the property is located, and date the property was acquired by the limited partnership. Also identify the assessor’s parcel number or assessment number of the property. As a prerequisite to being Actual granted the Welfare Exemption for low-income housing property owned by a limited partnership, the limited partnership must qualify for a Supplemental Clearance Certificate for Limited Partnership for Low-Income Housing Property – Welfare Exemption (BOE-277-SCC) (hereinafter referred to as “SCC”) on the property. If the limited partnership holds a SCC for the low-income housing property, identify the certificate number or indicate whether or not an application is pending with the Board. For additional information regarding for the requirements, see Property Tax Rules 140, 140.1, and 140.2, available on the Board’s websiteat www.boe.ca.gov.

SECTION 2. Identification of Managing General Partner (MGP). Identify the name of the managing general partner, corporate identification number or limited liability company number, mailing address of the managing general partner, and the date the managing general partner was admitted to the limited partnership. As a prerequisite to being granted the Welfare Exemption for low-income housing property owned by a limited partnership, the managing general partner of the limited partnership must qualify for an Organizational Clearance Certificate for Welfare or Veterans’ Organization Exemption (BOE-277-OCC) (hereinafter referred to as “OCC”) from the State Board of Equalization (Board). SAMPLE SECTION 3. Government Financing or Tax Credits; Use Restriction. Check all applicable boxes to certify if (1) the property use is restricted to low-income housing by a recorded regulatory agreement or recorded deed restriction, and (2) the funds that would have been necessary to pay property taxes are usedAssessorto maintain the affordability of the housing or to reduce the rents for the units occupied by lower- income households, and (3) the property receives either government financing or state/federal low-income housing tax credits.

SECTION 4B. List of Qualified Households. Include a list of all households that qualify for exemption based on the maximum income level for the county for the claim year where the property is located (see dollar amounts in Sections 4.A1 and 4.A2). Additionally, claimant must submit BOE-267-L4 to include a list of households that qualify for exemption under the 100% AMI criteria or BOE-267-L3 to include a list of households that qualify for exemption under the 140% AMI criteria indicated in Section 4.A2. Also, please list vacant units held for low-income housing tenants. Contact SECTION 4C. Revenue and Taxation Code section 214(g)(1) states rental housing and “related facilities” are entitled to a partial exemption equal to that percentage of the value of the property that is equal to the percentage that the number of units serving lower income households represents of the total number of residential units. The percentage determined shall apply to the total value of both improvements and land. Identify the number of units designated for use by or serving lower income households and the total number of residential units for the property.

Units Serving Lower Income Households. "Units serving lower income households" shall mean units that are occupied by lower income households at an affordable rent, as defined in section 50053 of the Health and Safety Code or, to the extent that the terms of federal, state, or local financing or financial assistance conflicts with section 50053, rents that do not exceed those prescribed by the terms of the financing or financial assistance.

Effective October 11, 2023, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii), a unit in a property that is subject to an enforceable and verifiable agreement with a public agency shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit

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continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 100 percent of area median income (AMI), adjusted for family size ("over-income" tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.

Effective October 13, 2017 and effective September 28, 2022, pursuant to Revenue and Taxation Code section 214(g)(2)(A)(iii) or (iv), a unit in a property that receives federal low income housing tax credits or owner of property that is a community land trust (CLT) and whose property is leased to a lower income household, shall continue to be treated as occupied by a lower income household if the occupants were lower income households on the lien date in the fiscal year in which their occupancy of the unit commenced and the unit continues to be rent restricted, notwithstanding an increase in the income of the occupants of the unit to 140 percent of area median income (AMI), adjusted for family size ("over-income" tenants). Units reserved for lower income households at an affordable rent that are temporarily vacant due to tenant turnover or repairs shall be counted as occupied.

Related Facilities. Revenue and Taxation Code section 214(g)(3)(C) states “related facilities” means any manager’s units and any and all common area spaces that are included within the physical boundaries of the rental housing development, including, but not limited to, common area space, walkways, balconies, patios, clubhouse space, meeting rooms, laundry facilities, and parking areas, except any portions of the overall development that are nonexempt commercial space. Form SECTION 5. This section requests information on any commercial space. If applicable, briefly describe the commercial space (i.e., multi-story building with residential use on floors 2-5 and retail space on ground floor) and use. ONLY SECTION 6.A. Managing General Partner Designation. Check all applicable boxes. See Rule 140.1, subdivision (a)(6), which provides the definition of “managing general partner” of a limited partnership under Revenue and Taxation Code section 214(g). Actual SECTION 6.B. Material Participation. A limited partnership, in which the managing general partner is an eligible nonprofit corporation or a limited liability company, may qualify for exemption for a particular property provided that the limited partnership agreement, or other agreement executed by all of the general partners, provides that the managing general partner is a general partner that has “material participation” in the control, management,forand direction of the limited partnership’s business. Check if applicable [see Rule 140.1, subdivision (a)(7)].

SECTION 6.C. Substantial Management Duties. A limited partnership in which the managing general partner is an eligible nonprofit corporation or limited liability company, may qualify for exemption for a particular property provided that the limited partnership agreement, or other agreement executed by all of the general partners, provides that the managing general partner is a general partner with “substantial management duties” [see Rule 140.1, subdivision (a)(10)]. Check only if 5 of the 12 management duties are performed by the managing general partner. SAMPLE SECTION 7. Delegation of Authority. If the limited partnership agreement contains a delegation of authority clause, it may provide either that: (1) the managing general partner may not delegate any of its partnership management duties; or (2) the managing general partner may delegateAssessorsome or all of its partnership management duties to persons who, under its supervision, may perform such duties on behalf of the limited partnership [see Rule 140.1, subdivision (d)]. If the managing general partner is authorized to delegate its partnership duties and elects to delegate one or more of its duties, the managing general partner must demonstrate that it is actually supervising the performance of the delegated duties. If the agreement contains a delegation of authority clause and states that the managing general partner may delegate its partnership management duties, list each duty delegated, the date each duty was delegated, and person performing such duty.

RECORDS AND DOCUMENTS MUST BE MAINTAINED BY THE MANAGING GENERAL PARTNER A copy of the claim form and supporting documents should be retained by the managing general partner. The managing general partner mustContactmaintain records and documents evidencing the partnership management duties performed by the managing general partner. Such records and documents may include, but are not limited to: accounting books and records; tax returns; budgets and financial reports; reports required by lenders; documents related to the construction or rehabilitation of real property; legal documents such as contracts, deeds, notes, leases, and deeds of trust; documents related to complying with government regulations and filings; documents related to property inspections; documents related to charitable services or benefits provided or the information provided regarding such services or benefits; reports prepared for the partners; bank account records; audited annual financial statement of the limited partnership; and property management agreement.