UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
********************************************
In the Matter of FINAL
Alliant Energy Corporation, et al. CERTIFICATE
PURSUANT TO
File No. 70-9323 RULE 24
(Public Utility Holding Company Act of 1935)
********************************************
REPORT PERIOD
January 1, 2003 through June 30, 2003
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 January 1, 2003 through June 30, 2003 (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 $419,647.
3. The name of each new partnership entered into during the Reporting Period
is as follows:
- Lincoln Ridge Limited Partnership
- Summit House Associates, 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 105.
6. In July 2003 (subsequent to the Report Period), AEI sold HPI to
nonaffiliated parties thereby disposing of its LIHTC Business. The
purchasers are not part of any federal or state public utility holding
company system. Subsequent to the Report Period, but prior to the sale of
HPI, additional investments required by previously existing commitments
were made in four entities previously reported in response to Item No. 3 of
this Certificate and one entity whose initial investment was made during
the Report Period, and included in the sale. The filing of this Certificate
and the sale of the LIHTC business concludes the required reporting under
the SEC's order dated August 13, 1999 and Supplemental Order dated July 19,
2002.
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: August 14, 2003
Heartland Properties, Inc. Exhibit A
Consolidated Balance Sheet File No. 70-9323
Including Iowa and Minnesota Investments
( LIHTC Business)
June 30, 2003
** Unaudited **
Assets
Cash and cash equivalents $ 4,369,080
Trade accounts receivable 2,881,153
Restricted cash - short-term 2,656,204
Loan to money pools 21,562,741
Other current assets:
Short-term notes receivable 77,100
Federal income tax receivable -
State income tax receivable 12,598
Receivable from parent and affiliates 1,013
Receivable from other related parties 1,017,464
Other 129,963
-------------------
Total other current assets 1,238,138
-------------------
Total Current Assets 32,707,316
-------------------
Operating property and equipment 391,563
Rental property 188,302,774
-------------------
Total property 188,694,337
-------------------
Accumulated depreciation - operating property (314,138)
Accumulated depreciation - rental property (41,410,292)
-------------------
Total accumulated depreciation (41,724,430)
-------------------
Net Fixed Assets 146,969,907
-------------------
Net intangible assets 2,025,186
Long-term assets
Restricted cash 5,981,881
Due from related party 2,470,247
Equity and other investments 3,032,623
Other 1,351,562
-------------------
Total long-term assets 12,836,313
-------------------
TOTAL ASSETS $ 194,538,722
===================
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.
The sale of these assets was concluded in July 2003. See Alliant Energy's
quarterly report on Form 10-Q for June 30, 2003 for further information on
this transaction.
Heartland Properties, Inc. Exhibit A
Consolidated Balance Sheet File No. 70-9323
Including Iowa and Minnesota Investments
( LIHTC Business)
June 30, 2003
** Unaudited **
Liabilities and Shareholder's Equity
Line of credit borrowing $ -
Payable to parent and affiliates 1,125,124
Current maturities of long-term debt 2,075,981
Trade accounts payable 344,590
Accrued payroll and vacation 55,002
Accrued interest payable 1,028,142
Federal income taxes payable 6,360,804
Other current liabilities 6,010,460
-------------------
Total Current Liabilities 17,000,103
-------------------
Mortgage notes payable on rental properties 101,144,805
Long-term debt with related party 1,495,564
-------------------
Total long-term debt 102,640,369
-------------------
Deferred income taxes 5,082,844
Other long-term liabilities 2,395,846
-------------------
TOTAL LIABILITIES 127,119,162
Minority interest 311,255
-------------------
Common stock 1,000
Additional paid in capital 51,487,041
Syndication/stock issuance costs (508,683)
-------------------
Total common stock 50,979,358
Dividends paid (15,095,999)
Cumulative earnings 31,224,946
-------------------
Total reinvested earnings 16,128,947
-------------------
TOTAL STOCKHOLDERS' EQUITY 67,108,305
-------------------
TOTAL LIABILITIES AND EQUITY $ 194,538,722
===================
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.
The sale of these assets was concluded in July 2003. See Alliant Energy's
quarterly report on Form 10-Q for June 30, 2003 for further information on
this transaction.
Heartland Properties, Inc. Exhibit A
Consolidated Balance Sheet File No. 70-9323
Including Iowa and Minnesota Investments
( LIHTC Business)
June 30, 2003
** Unaudited **
Professional services $ 150,645
Rental revenue 9,965,509
-------------------
Net revenue 10,116,154
Operating expenses
Operating expenses 2,103,901
Administrative and general expenses 5,571,121
Amortization 73,038
Taxes other than income 1,114,629
-------------------
Total operating expenses 8,862,689
-------------------
Operating income 1,253,465
Interest income (expense):
Income 282,033
(Expense) (2,470,893)
-------------------
Net interest (expense) (2,188,860)
Equity losses in unconsolidated entities (91,473)
Other income (expense) (1,697,965)
-------------------
Total other income (expense) (1,789,438)
Pre-Tax Income (Loss) (2,724,833)
Provision for (benefit of) income taxes:
Federal (463,121)
State (12,598)
Tax Credits (3,087,399)
-------------------
Total income tax (benefit) (3,563,118)
-------------------
Net Income (Loss) Before Minority Interest. 838,285
Minority Interest Net (Income) Loss (211)
-------------------
Net income $ 838,496
===================
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.
The sale of these assets was concluded in July 2003. See Alliant Energy's
quarterly report on Form 10-Q for June 30, 2003 for further information on
this transaction.
Response to SEC request.
File No. 70-9323
Reporting period 01/01/03 through 06/30/03
(Including Supplemental Data through 07/17/03)
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 01/01/03 through 06/30/03
(Including Supplemental Data through 07/17/03)
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
1/1/03 -- 6/30/03
-------------------
Lincoln Ridge Limited Partnership 987,822
Summit House Associates, L.P. 566,000
Montello Senior Housing Limited Partnership 793,534
Decorah Woolen Mill Limited Partnership 1,116,615
Maquoketa IHA Senior Housing Limited Partnership 154,652
Carroll IHA Senior Housing Limited Partnership 192,759
VFH,LLLP 622,500
-------------
Totals through June 30, 2003 36,936,429
7/1/03 -- 7/17/03
-------------------
Decorah Woolen Mill Limited Partnership 61,973
Knoxville IHA Senior Housing Limited Partnership 142,668
Keokuk Senior Housing Limited Partnership 145,118
Lincoln Ridge Limited Partnership 246,930
Montello Senior Housing Limited Partnership 40,000
-------------
Totals through conclusion of AEC's investment in LIHTC $ 37,573,118
=============
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 $37,573,118 leaving a balance
available for investment of $87,426,882.
On November 22, 2002 Alliant Energy Corporation 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. The
sale was concluded in July 2003. See Alliant Energy's Quarterly Report on Form
10-Q for June 30, 2003 for further information on this transaction.