2018-11-14T07:36:44-06:00 2017-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 500 AUBURN HILLS MI 48326 990 2017-01-01 562246833 HORIZON DEVELOPMENT PROPERTIES INC HORI 7043365233 400 EAST BLVD CHARLOTTE NC 28203 HEATHER R FRANKLIN CPA CFO 7043365233 2018-11-09 1 TINA M PETERS CPA P00904574 2483757100 2018-11-09 67.59.56.32 2018-11-09 13:44:56 ES P 852ED58CBC9AA6807749D456DA873D43AD1BF2F7 737380BCD7AD51223FD12A91753DF01CE9F34789 2017 2019-02-21 02:37:17Z HEATHER R FRANKLIN CPA 400 EAST BLVD CHARLOTTE NC 28203 34172568 0 X N/A X 2001 NC TO PROVIDE AFFORDABLE HOUSING TO ALL QUALIFIED FAMILIES. 7 7 0 7 0 0 20732923 2000008 9727805 31482104 -1804677 302707 0 387749 28656051 34172568 0 0 0 0 2098891 3512678 0 0 0 10521529 50090692 12620420 53603370 16035631 -19430802 134413214 256024196 86397140 177889810 48016074 78134386 TO PROVIDE AFFORDABLE HOUSING TO ALL QUALIFIED FAMILIES. 0 0 31892179 27408074 HORIZON DEVELOPMENT HAS A TOTAL OF 3,454 UNITS AVAILABLE TO RENT TO FAMILIES MAKING LESS THAN 80% OF AREA MEDIUM INCOME. 21261452 4461779 INCREASE AFFORDABLE HOUSING OPPORTUNITIES FOR QUALIFIED FAMILIES: WE ARE CONTINUOUSLY LOOKING FOR ADDITIONAL OPPORTUNITIES TO EXPAND OUR CAPACITY AND PROVIDE ADDITIONAL AFFORDABLE HOUSING OPTIONS FOR FAMILIES IN NEED. NO PROPERTIES WERE PURCHASED IN THE CURRENT YEAR. HOWEVER, THERE ARE MANY REAL ESTATE DEALS BEING PURSUED AND EVALUATED, WITH EACH AT DIFFERENT STAGES IN THE PROCESS. SEVERAL OF THESE SHOULD BE FINALIZED IN THE COMING YEAR. 53153631 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X HEATHER FRANKLIN 7043365233 400 EAST BLVD CHARLOTTE NC 28203 LINDA ASHENDORF COMMISSIONER 1.00 1.00 X 0 0 0 LUCY BROWN COMMISSIONER 1.00 1.00 X 0 0 0 SHIRLEY FULTON COMMISSIONER 1.00 1.00 X 0 0 0 SHEILA JONES COMMISSIONER 1.00 1.00 X 0 0 0 HAROLD COGDELL JR COMMISSIONER 1.00 1.00 X 0 0 0 RAY MCKINNON COMMISSIONER 1.00 1.00 X 0 0 0 JOHNATHON LAHN COMMISSIONER 1.00 1.00 X 0 0 0 SHAUNTE EVANS CHIEF ADMIN OFFICER 1.00 40.00 X 0 149191 26387 HEATHER FRANKLIN CFO 1.00 40.00 X 0 152206 24118 FULTON MEACHEM CEO 1.00 40.00 X 0 242250 33646 HARRIETT HUELL CHIEF COUNSEL 1.00 40.00 X 0 146619 22226 TROY DRAWZ CHIEF OPERATING OFFICER 1.00 40.00 X 0 147303 25247 0 837569 131624 0 0 1 0 M-M RESIDENTIAL LLC 2201-E CROWNPOINT EXECUTIVE DRIVE CHARLOTTE NC 28227 CONTRACTOR-TALL OAKS 8834834 SHIEL SEXTON COMPANY INC 902 N CAPITOL AVENUE INDIANAPOLIS IN 46204 CONTRACTOR-PARK AND MARSH 1391567 GOODWILL INDS OF THE SOUTHERN PIEDMONT PO BOX 668768 CHARLOTTE NC 28266 CONTRACTOR-SENECA, SOUTHSIDE AND WOODLAW 1384518 FIFTH THIRD BANK 10200 DAVID TAYLOR DRIVE CHARLOTTE NC 28262 VARIOUS PURCHASES 831069 RJJ CONSTRUCTION LLC PO BOX 718 PINEVILLE NC 28134 CONTRACTOR-SAVANNA, EDWIN AND CHARLOTTET 642435 16 2000008 2000008 TENANT RENTAL REVENUE 531110 26278575 26278575 DEVELOPER FEES EARNED 531110 4136710 4136710 OTHER TENANT REVENUE 531110 754297 754297 CONSTRUCTION MANAGEMENT FEES 531110 312522 312522 31482104 302707 302707 CONSULTING FEES 531110 71525 71525 CABLE REVENUE 531110 26963 26963 VENDING INCOME 531110 23896 23896 265365 265365 387749 34172568 31869853 0 302707 2983709 2983709 528969 528969 1358297 1358297 251990 217872 34118 161011 161011 4080231 4080231 87748 87748 637785 478717 159068 3581577 3581577 56231 56231 3858771 3858771 8209569 8209569 1808495 1808495 BOND DEFEASANCE 15279771 15279771 REPAIRS & MAINTENANCE 7759216 7759216 TENANT SERVICES 1400007 1400007 ASSET MANAGEMENT FEE 718239 718239 841754 585201 256553 53603370 53153631 449739 0 11531653 12394103 20610899 1190679 1904689 1811658 1230481 122549 24089 197940945 44399907 72999650 153541038 26335221 46452515 19559354 20728832 134413214 256024196 2305792 7119730 211840 448652 77315527 164386776 6563981 5934652 86397140 177889810 X 21025045 12818081 13547364 59406674 13443665 5909631 48016074 78134386 134413214 256024196 X -19430802 49549114 X X 0 1 X 1 0 X 746237 1501573 2290262 20732923 2000008 27271003 746237 1501573 2290262 20732923 2000008 27271003 27271003 6870 7318 9907 5942 302707 332744 612378 136903 224410 387749 1361440 28965187 64975483 0.94150 0.95570 X 16897316 16897316 160662899 44176836 116486063 17630285 93889 17536396 2750445 129182 2621263 153541038 INVESTMENT REAL ESTATE VENTURES 3500000 C CONSTRUCTION ESCROW 42952515 C 46452515 OTHER ASSETS 2423151 CONSTRUCTION IN PROGRESS 14315214 DEFERRED OUTFLOW OF RESOURCES 522739 TENANT SECURITY DEPOSITS 897940 DEBT ISSUANCE COST 2569788 20728832 SECURITY DEPOSITS 893933 OTHER CURRENT LIABILITIES 1885234 NONCURRENT LIABILITIES - OTHER 2191498 DEFERRED INFLOW OF RESOURCES 71477 INTERPROGRAM - DUE TO RELATED PARTY 892510 5934652 0 0 0 0 0 0 0 0 0 SHAUNTE EVANS CHIEF ADMIN OFFICER 0 144780 0 4411 0 0 0 11030 0 15357 0 175578 0 0 HEATHER FRANKLIN CFO 0 143201 0 9005 0 0 0 11259 0 12859 0 176324 0 0 FULTON MEACHEM CEO 0 221250 0 21000 0 0 0 17457 0 16189 0 275896 0 0 HARRIETT HUELL CHIEF COUNSEL 0 139988 0 6631 0 0 0 10543 0 11683 0 168845 0 0 TROY DRAWZ CHIEF OPERATING OFFICER 0 140350 0 6953 0 0 0 11082 0 14165 0 172550 0 0 PART I, LINE 3 THE FOLLOWING METHODS ARE USED BY A RELATED ORGANIZATION, THE HOUSING AUTHORITY OF THE CITY OF CHARLOTTE, TO DETERMINE COMPENSATION FOR THE CEO AND OTHER OFFICERS: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION B, LINE 11B ALL DOCUMENTS ARE EMAILED TO THE BOARD OF COMMISSIONERS AND GIVEN TIME TO REVIEW AND COMMENT PRIOR TO THE FILING OF THE 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO FILL OUT FORMS ANNUALLY AND DISCLOSE CONFLICTS OF INTEREST. IF A CONFLICT OF INTEREST ARISES, THE BOARD MEMBER ABSTAINS FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ALL EMPLOYEES IS BASED ON A YEARLY REVIEW OF MARKET AND INDUSTRY AVERAGES AS WELL AS AN EXTERNAL POSITION REVIEW, WHICH IS COMPLETED EVERY THREE TO FOUR YEARS. EXECUTIVE PAY REQUIRES ADDITIONAL REVIEW THAT INCLUDES THE FOLLOWING: A REVIEW OF ALL POSITIONS FROM AN EXTERNAL COMPENSATION FIRM (WATER CONSULTANTS) TO ENSURE POSITIONS ARE ACCURATE IN BOTH CONTENT AND IN PAY SCALE. FOR EXECUTIVE (CEO) PAY, A SALARY/BENEFIT REVIEW IS APPROXIMATELY EVERY TWO YEARS WITH OTHER AGENCIES (BOTH NC AND SC). THE UTILIZATION OF THE ANNUAL EMPLOYER'S ASSOCIATION SALARY COMPENSATION REVIEW AND THE RESULTS OF THE NAHRO EXECUTIVE COMPENSATION STUDY IS ALSO TAKEN INTO ACCOUNT WHEN DETERMINING EXECUTIVE PAY. THE LAST COMPENSATION REVIEW WAS CONDUCTED IN 2016. THIS PROCESS IS PERFORMED BY A RELATED PARTY. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: RAD ADJUSTMENT - ASSUMPTION OF INTEREST IN PROPERTIES 36,946,875. CAPITAL CONTRIBUTION FROM WELLS FARGO 12,602,239. SCHEDULE R, PART IV SECTION 168(H)(6)(F)(II) ELECTION FOR HDP-PM HDP-PM, LLC EIN 47-4746633 ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX EXEMPT ENTITY HDP-PM, LLC (47-4746633) LOCATED AT 400 EAST BOULEVARD, CHARLOTTE, NC 28203, HEREBY ELECTS UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX EXEMPT ENTITY FOR PURPOSES OF APPLYING THE RULES FOUND IN I.R.C. SECTION 168 (H)(6). THIS ELECTION IS AVAILABLE TO BE MADE BY AN ENTITY THAT IS NOT TAX EXEMPT, BUT WHICH IS CONTROLLED 50% OR MORE BY A TAX EXEMPT ENTITY. HDP-PM, LLC QUALIFIES TO MAKE SUCH ELECTION, AS IT IS OWNED 100% BY HORIZON DEVELOPMENT PROPERTIES, INC. (A TAX-EXEMPT ENTITY) (EIN 56-2246833) LOCATED AT 400 EAST BLVD., CHARLOTTE, NC 28203. THE PURPOSE OF THIS ELECTION IS TO TREAT THE ENTITY'S ALLOCABLE SHARE OF DEPRECIABLE PROPERTY OWNED BY PARK AND MARSH SENIORS, LLC (47-1869284) IN CHARLOTTE, NORTH CAROLINA. AS PROPERTY WHICH IS NOT TAX-EXEMPT USE PROPERTY. HDP-PM, LLC ACKNOWLEDGES THAT THE FOREGOING ELECTION IS IRREVOCABLE AND IS BINDING ON ALL TAX-EXEMPT ENTITIES HOLDING OWNERSHIP INTERESTS IN HDP-PM, LLC. SCHEDULE R, PART IV SECTION 168(H)(6)(F)(II) ELECTION FOR HDP-TO HDP-TO, LLC EIN 47-5041480 ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX EXEMPT ENTITY HDP-TO, LLC (47-5041480) LOCATED AT 400 EAST BOULEVARD, CHARLOTTE, NC 28203, HEREBY ELECTS UNDER INTERNAL REVENUE CODE SECTION 168(H)(6)(F)(II) NOT TO BE TREATED AS A TAX EXEMPT ENTITY FOR PURPOSES OF APPLYING THE RULES FOUND IN I.R.C. SECTION 168 (H)(6). THIS ELECTION IS AVAILABLE TO BE MADE BY AN ENTITY THAT IS NOT TAX EXEMPT, BUT WHICH IS CONTROLLED 50% OR MORE BY A TAX EXEMPT ENTITY. HDP-TO, LLC QUALIFIES TO MAKE SUCH ELECTION, AS IT IS OWNED 100% BY HORIZON DEVELOPMENT PROPERTIES, INC. (A TAX-EXEMPT ENTITY) (EIN 56-2246833) LOCATED AT 400 EAST BLVD., CHARLOTTE, NC 28203. THE PURPOSE OF THIS ELECTION IS TO TREAT THE ENTITY'S ALLOCABLE SHARE OF DEPRECIABLE PROPERTY OWNED BY TALL OAKS REDEVELOPMENT,LLC (47-5053942) IN CHARLOTTE, NORTH CAROLINA. AS PROPERTY WHICH IS NOT TAX-EXEMPT USE PROPERTY. HDP-TO, LLC ACKNOWLEDGES THAT THE FOREGOING ELECTION IS IRREVOCABLE AND IS BINDING ON ALL TAX-EXEMPT ENTITIES HOLDING OWNERSHIP INTERESTS IN HDP-TO, LLC. THE LOFTS LLC 400 EAST BLVD CHARLOTTE NC 28203 273408133 AFF. HOUSING NC 2311254 24485307 HORIZON DEVELOPMENT PROPERTIES INC MILL POND CHARLOTTE LLC 400 EAST BLVD CHARLOTTE NC 28203 273529561 AFF. HOUSING NC 1877514 11136692 HORIZON DEVELOPMENT PROPERTIES INC HDP SOUTHSIDE HOMES LLC 400 EAST BLVD CHARLOTTE NC 28203 813328210 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP CHARLOTTETOWN EDWIN LLC 400 EAST BLVD CHARLOTTE NC 28203 813383197 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP ARBOR GLEN 50 LLC 400 EAST BLVD CHARLOTTE NC 28203 814404515 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP AUTUMN PLACE LLC 400 EAST BLVD CHARLOTTE NC 28203 813307476 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP CEDAR KNOLL LLC 400 EAST BLVD CHARLOTTE NC 28203 813618615 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP CLAREMONT LLC 400 EAST BLVD CHARLOTTE NC 28203 813763857 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP FAIRMARKET SQUARE LLC 400 EAST BLVD CHARLOTTE NC 28203 813277229 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP GLADEDALE LLC 400 EAST BLVD CHARLOTTE NC 28203 813633445 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP GLEN COVE LLC 400 EAST BLVD CHARLOTTE NC 28203 813794790 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP HAMPTON CRESTE LLC 400 EAST BLVD CHARLOTTE NC 28203 813779594 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP LEAFCREST LLC 400 EAST BLVD CHARLOTTE NC 28203 813590901 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP MALLARD RIDGE LLC 400 EAST BLVD CHARLOTTE NC 28203 813661820 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP MCALPINE LLC 400 EAST BLVD CHARLOTTE NC 28203 813809670 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP MCMULLEN WOOD LLC 400 EAST BLVD CHARLOTTE NC 28203 813838571 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP MEADOW OAKS LLC 400 EAST BLVD CHARLOTTE NC 28203 813647486 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP ROBINSDALE LLC 400 EAST BLVD CHARLOTTE NC 28203 813702116 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP SAVANNA WOODS LLC 400 EAST BLVD CHARLOTTE NC 28203 813745619 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP SENECA WOODS LLC 400 EAST BLVD CHARLOTTE NC 28203 813824526 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP SUNRIDGE LLC 400 EAST BLVD CHARLOTTE NC 28203 813603532 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP TARLTON HILLS LLC 400 EAST BLVD CHARLOTTE NC 28203 813715850 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP VICTORIA SQUARE LLC 400 EAST BLVD CHARLOTTE NC 28203 813685578 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP WALLACE WOODS LLC 400 EAST BLVD CHARLOTTE NC 28203 813674027 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HDP WOODLAWN HOUSE LLC 400 EAST BLVD CHARLOTTE NC 28203 813271078 REAL ESTATE NC 0 0 HORIZON DEVELOPMENT PROPERTIES INC HOUSING AUTHORITY OF CHARLOTTE 400 EAST BLVD CHARLOTTE NC 28202 566000560 LOW-INC HOUSING NC GOVERNMENT N/A 0 CORE PROGRAMS INC 400 EAST BLVD CHARLOTTE NC 28202 311815003 ASSIST RESIDENTIAL NC 501(C)(3) LINE 7 HOUSING AUTHORITY OF CHARLOTTE 1 ARBOR GLEN III LLC 400 EAST BLVD CHARLOTTE NC 28203 200330906 REAL ESTATE NC HORIZON DEVELOPMENT PROPERTIES INC RELATED 161479 2065946 0 1 0.99900 ARBOR GLEN II LLC 400 EAST BLVD CHARLOTTE NC 28203 223867532 REAL ESTATE NC HORIZON DEVELOPMENT PROPERTIES INC RELATED 652294 7102973 0 1 0.99900 NEW DALTON IA LLC 400 EAST BLVD CHARLOTTE NC 28203 REAL ESTATE NC HORIZON DEVELOPMENT PROPERTIES INC RELATED 1010458 8159802 0 1 0.99900 HORIZON ACQUISITION CORP PO BOX 36795 CHARLOTTE NC 28236 562255222 REAL ESTATE NC N/A C 6149081 48868304 1.00000 1 HDP-PM LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 474746633 REAL ESTATE NC N/A C 1.00000 1 HDP-TO LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 475041480 REAL ESTATE NC N/A C 34 1034 1.00000 1 HDP MONTGOMERY GARDENS LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814334661 REAL ESTATE NC N/A C -14 -2523 1.00000 1 HDP NIA POINT LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814308375 REAL ESTATE NC N/A C -15 -13838 1.00000 1 HDP SPRINGFIELD GARDENS LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814376362 REAL ESTATE NC N/A C -14 -17349 1.00000 1 HDP PARK AT OAKLAWN LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814383217 REAL ESTATE NC N/A C 1.00000 1 HDP 940 BREVARD LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814322635 REAL ESTATE NC N/A C -42 -15984 1.00000 1 HDP ARBOR GLEN I LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814424241 REAL ESTATE NC N/A C 1.00000 1 HDP ARBOR GLEN II LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814458642 REAL ESTATE NC N/A C -15 -124492 1.00000 1 HDP ARBOR GLEN III LLC 400 EAST BOULEVARD CHARLOTTE NC 28203 814471283 REAL ESTATE NC N/A C -5 -3219 1.00000 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 1 1