Transfer of Controlling Interest

This document should be used for General Partner or primary ownership changes.

If you plan to transfer the ownership or controlling interest in the ownership you should submit this form at least 30 days prior to the anticipated transfer. If the project has a KHC loan or grant the review will be more extensive and will likely require more than 30 days.

Note: This form utilizes terms regarding partnerships, the most common form of ownership for tax credit properties. If the transfer involves a different type of ownership please complete and include the title of the type of entity. For example, if the entity has a Managing Member instead of a General Partner please enter the managing member information in the General Partner box and indicate that it is a Managing Member.

PROJECT INFORMATION

CURRENT OWNERSHIP

NEW OWNERSHIP

Will the existing property management change with the new ownership?

If yes, please fill out the Management Update form

FEE

A $100 per affordable housing unit/Housing Credit unit up to a maximum of $2500 must be submitted. Please include the project number for reference.

Note: Any type of change in ownership, either complete change in General Partner or change in entities that form the GP, will result in this fee. For Housing Credit projects in which the limited partner is removing the GP due to poor performance, KHC reserves the right to waive this fee. In addition, KHC reserves the right to waive this fee if financially a hardship to an assuming nonprofit.

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