UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
********************************************
In the Matter of
Alliant Energy Corporation, et al. CERTIFICATE
PURSUANT TO
File No. 70-9323 RULE 24
(Public Utility Holding Company Act of 1935)
********************************************
REPORT PERIOD
July 1, 2002 through December 31, 2002
ALLIANT ENERGY CORPORATION ("AEC") hereby certifies on behalf of itself,
Alliant Energy Resources, Inc. ("AER"), a wholly-owned subsidiary of AEC,
Alliant Energy Investments, Inc. ("AEI"), a wholly-owned subsidiary of AER, and
Heartland Properties, Inc. ("HPI"), a wholly-owned subsidiary of AEI, that
during the period from July 1, 2002 through December 31, 2002 (the "Reporting
Period"):
1. The consolidated balance sheet and statement of income for HPI's Low
Income Housing Tax Credit Business("LIHTC Business") as of the end of
the Reporting Period were as set forth in Exhibit A.
2. The amount of revenues and any form of compensation received by HPI
during the Reporting Period from any and all LIHTC property interests,
directly or indirectly, owned or controlled by HPI were $428,699.
3. The name of each new partnership entered into during the Reporting
Period is as follows:
- VFH, LLLP
- Yahara River Apartments Limited Partnership
- Van Allen, L.P.
Copies of the corresponding partnership agreement for each partnership
will be provided upon request.
4. The amounts of investment made by HPI during the Reporting Period
in the LIHTC properties and cumulative comparisons of the $125
million authorized in the SEC's order dated July 19, 2002 are as
set forth under Exhibit B.
5. The cumulative number of any and all LIHTC properties and any other
investment position in any form of non-utility assets held by HPI
at the end of the Reporting Period was 107.
Said transactions have been carried out in accordance with the terms
and conditions of, and for the purpose represented in, the Form U-1
Application-Declaration, as amended, of AEC, et al, in File No.,
70-9323, and in accordance with the terms and conditions of the SEC's
order dated August 13, 1999, permitting said Application-Declaration
to become effective.
S I G N A T U R E S
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, as amended, the undersigned companies have duly caused this
Certificate to be signed on their behalf by the undersigned thereunto
duly authorized.
ALLIANT ENERGY CORPORATION
ALLIANT ENERGY RESOURCES, INC.
ALLIANT ENERGY INVESTMENTS, INC.
By: /s/ Thomas L. Hanson
------------------------
Name: Thomas L. Hanson
Title: Vice President-Treasurer
HEARTLAND PROPERTIES, INC.
By: /s/ Ruth A. Domack
------------------------
Name: Ruth A. Domack
Title: President
DATED: February 13, 2003
Exhibit A
File No. 70-9323
(page 1 of 3)
Heartland Properties, Inc.
Consolidated Balance Sheet
Including Iowa and Minnesota Investments
(LIHTC Business)
December 31, 2002
** UNAUDITED **
Assets
Cash and cash equivalents $ 3,296,161
Trade account receivable 907,931
Restricted cash - short-term 3,222,186
Loan to Money Pools 5,892,266
Other current assets:
Short-term notes receivable 77,100
Federal income tax receivable 10,474,207
State income tax receivable 31,237
Receivable from parent and affiliates 1,350
Receivable from other related parties 935,587
Other 82,898
--------------
Total other current assets 11,602,379
--------------
Total Current Assets 24,920,923
--------------
Operating property and equipment 399,711
Rental property 192,255,218
--------------
Total property 192,654,929
--------------
Accumulated depreciation - operating property (321,327)
Accumulated depreciation - rental property (41,453,131)
--------------
Total accumulated depreciation (41,774,458)
--------------
Net Fixed Assets 150,880,471
--------------
Net intangible assets 2,257,394
--------------
Restricted cash - long-term 5,831,068
--------------
Long-term assets
Due from related party 2,488,002
Equity and other investments 5,433,560
Other 1,372,683
--------------
Total long-term assets 9,294,245
--------------
TOTAL ASSETS $ 193,184,101
==============
Note:Effective upon the decision to seek a buyer for the LIHTC Business these
assets were reclassified as being held for sale and depreciation ceased.
See Alliant Energy Corporation's Current Report on Form 8-K dated November
22, 2002 for further information.
Exhibit A
File No. 70-9323
(page 2 of 3)
Heartland Properties, Inc.
Consolidated Balance Sheet
Including Iowa and Minnesota Investments
(LIHTC Business)
December 31, 2002
** UNAUDITED **
Liabilities and Shareholder's Equity
Line of credit borrowing $ -
Payable to parent and affiliates 2,770,204
Current maturities of long-term debt 3,476,392
Trade accounts payable 351,327
Accrued payroll and vacation 414,976
Accrued interest payable 966,130
Deferred revenue 6,438
Other current liabilities 6,117,936
--------------
Total Current Liabilities 14,103,403
--------------
Mortgage notes payable on rental properties 103,516,513
Long-term debt with related party 2,319,383
--------------
Total long-term debt 105,835,896
Deferred income taxes 5,147,903
Other long-term liabilities 2,433,823
--------------
TOTAL LIABILITIES 127,521,025
Minority interest 123,541
Common stock 1,000
Additional paid in capital 48,357,123
Syndication/stock issuance costs (568,834)
--------------
Total common stock 47,789,289
--------------
Dividends paid (14,888,731)
Cumulative earnings 32,638,977
--------------
Total reinvested earnings 17,750,246
--------------
TOTAL STOCKHOLDERS' EQUITY 65,539,535
--------------
TOTAL LIABILITIES AND EQUITY $ 193,184,101
==============
Note:Effective upon the decision to seek a buyer for the LIHTC Business these
assets were reclassified as being held for sale and depreciation ceased.
See Alliant Energy Corporation's Current Report on Form 8-K dated November
22, 2002 for further information.
Exhibit A
File No. 70-9323
(page 3 of 3)
Heartland Properties, Inc.
Including Iowa and Minnesota Investments
(LIHTC Business)
Statement of Income
Year Ending December 31, 2002
** UNAUDITED **
Professional services $ 447,571
Rental revenue 19,382,678
--------------
Net revenue 19,830,249
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Operating expenses
Operating expenses 3,909,375
Administrative and general expenses 8,355,987
Depreciation and amortization 4,787,626
Taxes other than income 2,170,004
--------------
Total operating expenses 19,222,992
--------------
Operating income 607,257
Interest income (expense):
Income 685,887
(Expense) (5,122,202)
--------------
Net interest (expense) (4,436,315)
--------------
Equity losses in unconsolidated entities (361,175)
Other income (expense) 293,025
--------------
Total other income (expense) (68,150)
--------------
Pre-Tax Income (Loss) (3,897,208)
--------------
Provision for (benefit of) income taxes:
Federal (1,663,361)
State 1,228,255
Tax Credits (9,766,558)
--------------
Total tax benefit (10,201,664)
--------------
Net Income (Loss) Before Minority Interest 6,304,456
Minority Interest Net (Income) Loss (3,045)
--------------
Net income $ 6,307,501
==============
Note:Effective upon the decision to seek a buyer for the LIHTC Business these
assets were reclassified as being held for sale and depreciation ceased.
See Alliant Energy Corporation's Current Report on Form 8-K dated November
22, 2002 for further information.
Response to SEC request.
File No. 70-9323
Reporting period 7/1/02 through 12/31/02
Exhibit B
4. The amounts of investment made by HPI during the Reporting
Period in the LIHTC properties authorized under in the SEC's order
dated August 13, 1999 as amended by the Supplemental Order
dated July 19, 2002 are as follows:
7/1/99 -- 12/31/99
Fort Madison IHA Senior Housing Limited Partnership $ 521,436
Wagon Wheel Limited Partnership 864,756
Fond du Lac Senior Housing Limited Partnership 200
1/1/00 -- 6/30/00
Pickerel Park Associates Limited Partnership 451,721
Meadow Wood Associates of Carroll Phase II, Limited Partnership 578,505
Fort Madison IHA II Senior Housing Limited Partnership 473,700
7/1/00 -- 12/31/00
Fond du Lac Senior Housing Limited Partnership 836,410
Countryside of Clinton Associates Limited Partnership 694,000
Heartland Properties Equity Investment Fund I, a Wisconsin
Limited Partnership* 10,600,000
Meadow Wood Associates of Carroll Phase II, Limited Partnership 231,362
Pickerel Park Associates Limited Partnership 209,779
1/1/01 -- 6/30/01
Wagon Wheel Limited Partnership 201,635
Fort Madison IHA Senior Housing Limited Partnership 105,234
Fort Madison IHA II Senior Housing Limited Partnership 118,400
Meadow Wood Associates of Carroll Phase II, Limited Partnership 347,043
Richland Center WHA Limited Partnership 289,444
Heartland-Wisconsin Rapids Timber Trails, LLC 1,587,738
Maquoketa IHA Senior Housing Limited Partnership 618,709
7/1/01 -- 12/31/01
Fond du Lac Senior Housing Limited Partnership 32,000
Pickerel Park Associates Limited Partnership 586,500
Countryside of Clinton Associates Limited Partnership 277,560
Knoxville IHA Senior Housing Limited Partnership 570,769
Apollo Tax Credit Fund-XVII Limited Partnership 235,807
Montello Senior Housing Limited Partnership 35,200
MDI Limited Partnership #47 631,617
Heartland Properties Equity Investment Fund VII, L.L.C.** 1,229,400
----------------
Carried forward $ 22,328,925
----------------
Response to SEC request.
File No. 70-9323
Reporting period 7/1/02 through 12/31/02
Brought forward $ 22,328,925
1/1/02 -- 6/30/02
Pickerel Park Associates Limited Partnership 75,000
Countryside of Clinton Associates Limited Partnership 416,340
Richland Center WHA Limited Partnership 72,360
Apollo Tax Credit Fund-XVII Limited Partnership 2,010,775
MDI Limited Partnership #47 934,840
Apollo Tax Credit Fund-XIX Limited Partnership 2,771,011
Decorah Woolen Mill Limited Partnership 200
Keokuk Senior Housing Limited Partnership 580,575
Carroll IHA Senior Housing Limited Partnership 578,375
Historic Park Street Senior Development Limited Partnership 346,292
7/1/02 -- 12/31/02
Historic Park Street Senior Development Limited Partnership 134,808
VFH,LLLP 77,500
Yahara River Apartments Limited Partnership 200
Apollo Tax Credit Fund-XVII Limited Partnership 195,818
MDI Limited Partnership #47 1,303,653
Van Allen, LP 675,875
----------------
$32,502,547
=================
Notes to Exhibit B:
*Amounts invested in Heartland Properties Equity Investment Fund I were invested
pursuant to Alliant Energy Corporation et al., Holding Company Act Release No.
27198 (July 10, 2000) (supplemental order).
** Amounts invested in Heartland Properties Equity Investment Fund VII, LLC were
invested in an entity owned in part prior to the three-way merger creating
Alliant Energy Energy Corporation.
The cumulative amount of investment made by HPI in the LIHTC properties
authorized in the SEC's Order dated August 13, 1999 as amended by the
Supplemental Order dated dated July 19, 2002 is $32,502,447 leaving a balance
available for investment of $92,497,553.
On November 22, 2002 Alliant Energy Corporation (Heartland Properties' ultimate
parent) reported on a Current Report on Form 8-K that as part of Alliant
Energy's effort to narrow the number of business platforms and focus on core,
utility-related businesses it would pursue the sale of, or other exit strategies
for a number of non-regulated businesses, including the affordable housing
business conducted by Heartland Properties. As a result, remaining investments
are limited to those having commitments outstanding prior to this date.