2024-11-08T10:24:40-06:00 2023-12-31 450250958 Eide Bailly LLP 877 W Main St Ste 800 Boise ID 837025858 990EZ 2023-01-01 932549415 Lakewood Affordable Housing Corporation LAKE 3039877762 575 Union Blvd Ste 100 Lakewood CO 802281240 Amy Case Chairperson 3039877762 2024-11-07 1 1 Kimberly C Nelson CPA P01887713 2083447150 2024-11-07 2023 2024-10-15 13:58:12Z X X X N/A X X 3002 X 3000 2 3002 500 1164 1664 1338 0 0 1338 0 1338 0 1338 0 0 0 1338 X LAHC was formed to support the development, financing and operation of affordable housing in the City of Lakewood, Colorado, and to support the affordable housing development and financing activities of the Housing Authority of the City of Lakewood, Colorado, which does business as Metro West Housing Solutions (MWHS). MWHS is developing, and plans to renovate, a 118-unit property at 259 S. Teller Street in Lakewood, Colorado (the Development), and plans to finance the Development with low income housing tax credits. In connection with the low income housing tax credit financing, MWHS has caused the formation of MWHS Belmar Groves LLLP, a Colorado limited liability limited partnership (the Partnership), which will own the Development. The general partner of the Partnership is MWHS Belmar Groves LLC, of which MWHS is the sole member. 0 1164 1164 Amy Case Chairperson 0.50 0 0 0 Danielle Vachon Vice Chair 0.50 0 0 0 Julie Stern Secretary 0.50 0 0 0 Lauren Schevets Treasurer 0.50 0 0 0 Dayna Ashley-Oehm Director 0.50 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Carl Musso 575 Union Blvd Ste 100 Lakewood CO 802281240 3039877762 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X X 1 Housing Authority of the City of Lakewood 840723240 6 1 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X Part IV, Section A, Line 2: The supported organization, Housing Authority of the City of Lakewood, Colorado, (Authority) d/b/a Metro West Housing Solutions, is not required to obtain recognition of its public charity status as it is an exempt governmental unit. Part IV, Section D, Line 2: LAHC's Board of Directors includes five directors, three of whom will be Independent Directors and two of whom will be nominated by the Chief Executive Officer of the Authority, LAHC's supported organization. All Directors will be elected by the majority vote of the existing Independent Directors. The three Independent Directors will be selected from applications submitted to LAHC by potential board members, including members of the general public. LAHC's officers and directors will maintain a close and continuous working relationship with the officers and directors of the Authority by virtue of the fact that the Authority's Chief Executive Officer will have the power to nominate two of LHAC's five directors. Additionally, LAHC and the Authority will maintain an ongoing working relationship, since LAHC will at all times be operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of the Authority. Part IV, Section D, Line 3: The officers and directors of the Authority will have a significant voice in LAHC's investment policies, the timing and making of grants, and in otherwise directing the use of LAHC's income and assets, by virtue of the fact that the Bylaws of LAHC give the Authority's Chief Executive Officer the power to appoint two of LAHC's five directors. As such, the Authority will have a voice on LAHC's Board of Directors and in all decisions regarding the use or LAHC's income and assets. Part IV, Section E, Line 1c: LAHC is organized and will be operated exclusively for the benefit of, to perform the functions of, and to carry out the purposes of the Housing Authority of the City of Lakewood, Colorado, d/b/a Metro West Housing Solutions (the "Authority"), which is a governmental unit organized and existing under the Housing Authorities Law of the State of Colorado, as described in Section 509(a)(1) and Section 170(c)(1). Specifically, LAHC will be operated in connection with the Authority and will promote and facilitate the development, financing, operation and maintenance of safe, decent, and affordable housing for low and moderate income households in Lakewood, Colorado, and to support programs to enhance the quality of life of residents of affordable housing in Lakewood, Colorado. Form 990-EZ, Part I, Line 4 - Other Investment Income Description: Interest Income. Amount: 2. Form 990-EZ, Part I, Line 16 - Other Expenses Description: Insurance. Amount: 1,164. Form 990-EZ STATEMENT OF ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(h)(6)(F)(ii) Name of Taxpayer: Belmar Groves ALP LLC Address of Taxpayer: 575 Union Blvd Ste 100, Lakewood, CO 80228 Taxpayer Identification Number: 93-2577466 Purpose of Election: The election pursuant to Section 168(h)(6)(F)(ii) may be made by an entity that is a tax-exempt controlled entity. Generally, an entity is a tax-exempt controlled entity if it is a corporation which is not tax-exempt and if 50% or more of the stock of such corporation is owned by one or more tax-exempt entities. An entity making the election pursuant to Section 168(h)(6)(F)(ii) shall not be treated as a tax-exempt entity for purposes of Internal Revenue Code Sections 168(h)(5) and 168(h)(6). Any gain recognized by a tax-exempt entity on any disposition of an interest in such entity (and any dividend or interest received or accrued by a tax-exempt entity from such tax-exempt controlled entity) will be treated as unrelated business taxable income. The purpose of this election is to treat Belmar Groves ALP LLC's allocable share of depreciable property owned by the partnership in which Belmar Groves ALP LLC has an investment as property which is not tax-exempt use property. Belmar Groves ALP LLC is entitled to make such election because it is a corporation or has elected to be treated for federal tax purposes as an association which is taxable as a corporation and is 100% owned by Lakewood Affordable Housing Corporation. Belmar Groves ALP LLC hereby elects pursuant to Internal Revenue Code Section 168(h)(6)(F)(ii) not to be treated as a tax-exempt entity for purposes of applying the rules in Internal Revenue Code Sections 168(h)(5) and 168(h)(6). The tax-exempt status of Lakewood Affordable Housing Corporation is not affected by this Statement of Election. Applicable Period: This Statement of Election is effective beginning with the taxable year ending December 31, 2023. The organization did not, during the year, receive any funds, directly,or indirectly, to pay premiums on a personal benefit contract.The organization, did not, during the year, pay any premiums, directly,or indirectly, on a personal benefit contract.