UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended June 30, 2004
Commission File Number 33-11194
CENTURY PACIFIC HOUSING FUND-I
(Exact name of registrant as specified in its charter)
California 95-3938971
(State or other jurisdiction of (I.R.S. Employer
incorporation of organization) Identification No.)
1 East Stow Road
Marlton, NJ 08053
(Address of principal executive offices) (Zip Code)
(856) 596-3008
(Registrant's telephone number, including area code)
No Change
(Former name or former address, if changed since last report)
Indicate by a check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No[ ]
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act).
Yes [ ] No[X]
1
CENTURY PACIFIC HOUSING FUND I
TABLE OF CONTENTS
Page
PART I FINANCIAL INFORMATION
Item 1 Financial Statements and Supplementary
Data . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Item 2 Management's Discussion and Analysis
Of Financial Condition and Results of
Operations. . . . . . . . . . . . . . . . . . . . . . . . 12
Item 3 Quantitative and Qualitative Disclosures
About Market Risk . . . . . . . . . . . . . . . . . . . 14
Item 4 Controls and Procedures . . . . . . . . . . . . . . . . . . 14
PART II OTHER INFORMATION
Item 1 Legal Proceedings . . . . . .. . . . . . . . . . . . . . . . 14
Item 2 Unrestricted Sales of Equity Securities and
Use of Proceeds . . . . . . . . . . . . . . . . . . . . 14
Item 3 Defaults Upon Senior Securities . . . . . . . . . . . . . . 14
Item 4 Submission of Matters to a Vote of Security Holders . . . . 15
Item 5 Other Information . . . . . . . . . . . . . . . . . . . . . 15
Item 6 Exhibits and Reports on Form 8-K . . . . . . . . . . . . . . 15
SIGNATURE
CERTIFICATIONS
EXHIBITS
2
PART I FINANCIAL INFORMATION
ITEM 1 FINANCIAL STATEMENTS
CENTURY PACIFIC HOUSING FUND-I
BALANCE SHEETS
June 30, March 31,
2004 2004
(Unaudited) (Audited)
---------- ---------
ASSETS
Receivable from Related Parties (Note 4) $ 4,934 $ 4,934
Investments in Limited Partnerships
(Note 5) 0 0
-------- ---------
$ 4,934 $ 4,934
-------- ---------
LIABILITIES AND PARTNERS' DEFICIT
Accounts Payable and Accrued Expenses $ 10,800 $ 10,800
Advance From Affiliate 62,455 62,455
Amounts Payable to Related Parties
(Note 4) 1,219,072 1,204,072
--------- ---------
1,292,327 1,277,327
--------- ---------
Commitments and Contingencies
Partners' Deficit, per
accompanying statement
General Partners (404,470) (404,170)
Limited Partners, $1,000
stated value per unit,
50,000 units authorized,
22,315 units issued and
outstanding (882,923) (868,223)
--------- ---------
(1,287,393) (1,272,393)
---------- ----------
$ 4,934 $ 4,934
---------- ----------
The accompanying notes are an integral part of this financial statement.
3
CENTURY PACIFIC HOUSING FUND-I
STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended
June 30,
2004 2003
------- -------
Expenses:
General and Administrative (Note 4) $ 15,000 $ 15,000
Equity in Net Losses of Operating
Partnership (Note 5) 0 0
--------- --------
15,000 15,000
--------- --------
Net Loss $ (15,000) $(15,000)
========= ========
Allocation of Net Loss
General Partners $ (300) $ (300)
Limited Partners (14,700) (14,700)
--------- --------
$ (15,000) $(15,000)
========= ========
Net Loss Per Unit of Limited
Partnership Interest $(.66) $(.66)
======= ======
Average Number of Units
Outstanding 22,315 22,315
======= ======
The accompanying notes are an integral part of this financial statement.
4
CENTURY PACIFIC HOUSING FUND-I
STATEMENTS OF PARTNERS' DEFICIT
June 30, 2004
(Unaudited)
General Limited
Partners Partners Total
-------- -------- -----
Balance at April 1, 2003 $(402,970) $(809,423) $(1,212,393)
Net Loss (1,200) (58,800) (60,000)
--------- --------- -----------
Balance at March 31, 2004 (404,170) (868,223) (1,272,393)
Net Loss (300) (14,700) (15,000)
--------- --------- -----------
Partners' Deficit at
June 30, 2004 $(404,470) $(882,923) $(1,287,393)
--------- --------- -----------
Percentage Interest
June 30, 2004 2% 98% 100%
--------- --------- -----------
The accompanying notes are an integral part of this financial statement.
5
CENTURY PACIFIC HOUSING FUND-I
STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
June 30,
2004 2003
-------- --------
Cash Flow From Operating Activities:
Net Loss $(15,000) $(15,000)
Adjustments to reconcile net loss to net
cash provided by (used in) operating
activities:
Increase in payable to related parties 15,000 15,000
------- --------
Net Cash Provided by (Used in) Operating
Activities $ 0 $ 0
------- --------
Net Increase/(Decrease) in Cash $ 0 $ 0
Cash Beginning of Period 0 0
------- --------
Cash End of Period $ 0 $ 0
======= ========
The accompanying notes are an integral part of this financial statement.
6
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PARTNERSHIP AND ITS ORGANIZATION:
Century Pacific Housing Fund I, a California limited partnership (the
"Partnership" or "CPHF-I") was formed on October 6, 1986 for the purpose of
raising capital by offering and selling limited partnership interests and then
acquiring limited partnership interests in partnerships (the "Operating
Partnerships") which acquire and operate existing residential apartment rental
properties (the "Properties").
The general partners of the Partnership are Century Pacific Capital Corporation,
a California corporation ("CPCC"), and Irwin Jay Deutch, an individual
(collectively, the "General Partners"). The General Partners and affiliates of
the General Partners (the "General Partners and Affiliates") have interests in
the Partnership and receive compensation from the Partnership and the Operating
Partnerships (Note 4).
The Properties qualify for the "Low-Income Housing Tax Credit" established by
Section 42 of the Tax Reform Act of 1986 (the "Low-Income Housing Tax Credit")
and one Property qualifies for Historic Rehabilitation Tax Credits (collectively
the "Tax Credits"). These Properties are leveraged low-income multifamily
residential complexes and some receive one or more forms of assistance from
federal, state or local governments, or agencies (the "Government Agencies")
while others do not receive any subsidy from Government Agencies although some
may have mortgage loans insured by a Government Agency.
In July 1987, the Partnership began raising capital from sales of limited
partnership interests at $1,000 per interest ("unit"). The limited partnership
offering closed in April 1988, with 22,315 units having been sold.
The Partnership originally acquired limited partnership interests ranging from
90% to 99% in 21 Operating Partnerships, which invested in rental property. At
June 30, 2004, the Partnership owns investments in 12 of these Operating
Partnerships.
Basis of Presentation
The accompanying unaudited financial statements of Century Pacific Housing Fund
I as of June 30, 2004 and March 31, 2004 (the March 31, 2004 financial
information included herein has been extracted from the Partnership's audited
financial statements on Form 10-K) and for the three months ended June 30, 2004
and 2003 have been prepared in accordance with accounting principles generally
accepted in the United States of America for interim financial information and
with the instructions to Form 10-Q and Article 10 of Regulation S-X under the
Securities Exchange Act of 1934. Accordingly, they do not include all of the
information and footnotes required by accounting principles generally accepted
in the United States of America for complete financial statements. In the
opinion of the Partnership's management, all adjustments (consisting of only
normal recurring adjustments) considered necessary to fairly present the
financial statements have been made.
7
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS (Continued)
The statements of operations for the three months ended June 30, 2004 and 2003
are not necessarily indicative of the results that may be expected for the
entire year. These statements should be read in conjunction with the financial
statements and related notes thereto included on form 10-K for the years ended
March 31, 2004 and 2003.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
The following are the Partnership's significant accounting policies:
Investments in Operating Partnerships:
The Partnership uses the equity method to account for its investments in the
Operating Partnerships in which it has invested (Note 5).
Under the equity method of accounting, the investment is carried at cost and
adjusted for the Partnership's share of the Operating Partnerships' results of
operations and by cash distributions received. Equity in the loss of each
Operating Partnership allocated to the Partnership is not recognized to the
extent that the investment balance would become negative. Costs paid by the
Partnership for organization of the Operating Partnerships as well as direct
costs of acquiring properties, including acquisition fees and reimbursable
acquisition expenses paid to the General Partner, have been capitalized as
investments in Operating Partnerships.
Basis of Accounting:
The Partnership maintains its financial records on the tax basis. Memorandum
entries, while not recorded in the records of the Partnership, have been made in
the financial statements to reflect accounting principles generally accepted in
the United States of America.
The Partnership fiscal year end is March 31, and the Operating Partnerships have
a calendar year end. The Partnership, as well as the Operating Partnerships, has
a calendar year for income tax purposes.
Estimates and Assumptions
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reported period. Actual results could differ from those estimates.
Syndication Costs:
Public offering costs have been recorded as a direct reduction to the capital
accounts of the Limited Partners.
8
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS (Continued)
Income Taxes:
No provision has been made for income taxes in the accompanying financial
statements since such taxes and/or the recapture of the Low Income Housing Tax
Credit benefits received, if any, are the liability of the individual partners.
The Partnership uses the accrual method of accounting for tax purposes.
Net Loss per Unit of Limited Partnership Interest
Net loss per unit of limited partnership interest is calculated based upon the
weighted average number of units of limited partnership interest (units)
outstanding.
Note 3 - GOING CONCERN
The accompanying financial statements have been prepared in conformity with
accounting principles generally accepted in the United States of America, which
contemplate continuation of the Partnership as a going concern. The
Partnership's Operating Partnerships have not achieved the operating results
required to provide the Partnership with sufficient cash distributions to fund
the Partnership's administrative costs. Additionally, as of June 30, 2004, the
Partnership has incurred allocated losses from all of its Operating Partnerships
to the extent of the Partnership's cash contributions. As a result of the
foregoing, the Partnership is dependent upon the general partners and affiliates
for continued financial support.
The December 31, 2004 auditors' reports on five of the Operating Partnerships'
financial statements contained an explanatory paragraph relating to a going
concern issue, four of which concerned the maturity of purchase notes for which
the Operating Partnerships will not be able to satisfy the obligations. The
going concern issue on the fifth Operating Partnership related to substantial
operating losses suffered by the Operating Partnership.
Management maintains that the general partners and affiliates, though not
required to do so, will continue to fund current operations by deferring payment
to related parties of allocated overhead expenses, and by funding any
Partnership operating costs. Unpaid allocated overhead expenses will accrue and
become payable when the Operating Partnerships either generate sufficient cash
distributions to the Partnership to cover such expenses or when the Operating
Partnerships are sold. At the present time, management is aware that the General
Partners are making a conscious effort to sell these properties. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.
9
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 4 - TRANSACTIONS WITH THE GENERAL PARTNERS AND AFFILIATES OF THE GENERAL
PARTNERS:
The General Partners of the Partnership are CPCC and Irwin Jay Deutch. The
original limited partner of the Partnership is Westwood Associates whose
partners are Irwin Jay Deutch and key employees of CPCC. Century Pacific
Placement Corporation ("CPPC"), an affiliate of the General Partners, served as
the broker-dealer-manager for sales of limited partnership interests in the
Partnership.
Century Pacific Realty Corporation ("CPRC"), an affiliate of CPCC, is a general
partner in nine of the Operating Partnerships.
The General Partners have an aggregate one percent interest in the Partnership,
as does the original limited partner. CPRC has an ownership interest in nine of
the Operating Partnerships between .01% and 1%.
The General Partners and Affiliates receive compensation and reimbursement of
expenses from the Partnership, as set forth in the limited partnership
agreement, for their services in managing the Partnership and its business. The
General Partners and Affiliates also receive compensation and reimbursement of
expenses from the Operating Partnerships. This compensation and reimbursement
includes services provided to the Partnership during its offering stage,
acquisition stage, operational stage, and termination or refinancing stage.
At June 30, 2004 and March 31, 2004, amounts payable to related parties totaling
$1,219,072 and $1,204,072, respectively, consist of fees and certain general and
administrative costs accrued as an unsecured non-interest bearing payable by the
Partnership to the general partners and affiliates. Such fees and allocated
costs have been deferred until the Partnership has sufficient cash to pay them.
Receivable from related parties of $4,934 at June 30, 2004 and March 31, 2004
represents unsecured cash advances to several of the Operating Partnerships.
At June 30, 2004 and March 31, 2004, CPRC was owed $62,455 for unsecured
non-interest bearing, demand cash advances to the Partnership.
The general partners may advance funds to the Partnership to fund operating
deficits, but are not obligated to do so. All such loans shall be repaid prior
to any distributions of net cash flow. At June 30, 2004 and March 31, 2004, the
Partnership had no outstanding advances due to the general partners.
As of June 30, 2004, a third-party buyer has entered into a conditional contract
to acquire CPEC, CPCC, CPRC, and their affiliated companies and partnerships
from Deutch's family trust. The sale is anticipated to occur in 2006.
10
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS (Continued)
NOTE 5 - INVESTMENTS IN LIMITED PARTNERSHIPS:
At March 31, 2004, the Partnership owned limited partnership interests in 13
Operating Partnerships which had investments in 13 multi-family rental
properties. In June 2004, one of these properties was sold.
The Partnership's equity in net operating losses of its investments in Operating
Partnerships has exceeded the investment balance. Consequently, the investment
balances have been reduced to zero in accordance with the equity method of
accounting.
The names and locations of the Properties in which the Operating Partnerships
hold beneficial interests at June 30, 2004 are as follows:
Name of Operating Partnership Property Name Location
- ----------------------------- ------------- --------
Century Pacific Housing
Partnership-I (CPHP-I) Charter House Dothan, Alabama
CPHP-II Sunset Park Denver, Colorado
CPHP-V Jaycee Towers Dayton, Ohio
CPHP-VII Gulfway Terrace New Orleans, Louisiana
CPHP-IX Windridge Wichita, Kansas
CPHP-X Bergen Circle Springfield, Massachusetts
CPHP-XVI Rockwell Villas Oklahoma City, Oklahoma
CPHP-XVII London Square Village Oklahoma City, Oklahoma
CPHP-XVIII Ascension Towers Memphis, Tennessee
CPHP-XIX Coleman Manor Baltimore, Maryland
CPHP-XX Holiday Heights Fort Worth, Texas
CPHP-XXII Harriet Tubman Terrace Berkeley, California
The following combined statements of operations are prepared in accordance with
accounting principles generally accepted in the United States of America and
summarize the operations of the Operating Partnerships for the three months
ended June 30, 2004 and June 30, 2003.
Three Months Ended
June 30,
2004 2003
---------- -----------
Revenues:
Rental Income $2,816,577 $ 2,637,491
Other 5,843,703 77,316
---------- -----------
8,660,280 2,714,807
---------- -----------
Expenses
Operating, General and
Administrative 2,516,262 2,222,654
Depreciation 583,615 674,501
Interest 1,167,664 1,346,109
---------- -----------
4,268,541 4,243,264
---------- -----------
Net Income/(Loss) $4,391,739 $(1,528,457)
========== ===========
11
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
JUNE 30, 2004
NOTES TO FINANCIAL STATEMENTS (Continued)
In June 2004, a property located in Virginia Beach, Virginia was sold for a
taxable gain of $3,797,669. There were no cash proceeds resulting from this
sale.
In 2003, an Operating Partnership sold a property located in Newton, Kansas for
a gain of $71,929. There were no cash proceeds resulting from this sale.
NOTE 6 - SUBSEQUENT EVENTS
In August 2004, an Operating Partnership located in Denver, Colorado sold a
property for $8,300,000 for a taxable gain of $3,998,295. In December 2004, two
Operating Partnerships sold properties located in Oklahoma City, Oklahoma for
$5,000,000 resulting in a combined taxable gain of $1,079,642. There were no
cash proceeds resulting from these sales.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS
OF OPERATIONS
Results of Operations
For the three month periods ended June 30, 2004 and 2003, the Partnership
recorded net losses of $15,000. The net losses are equal to the reimbursement
paid to Century Pacific Equity Corporation (CPEC), an affiliate, for overhead
allocations.
In accordance with the equity method of accounting for limited partnership
interests, the Partnership does not recognize losses from investment properties
when losses exceed the Partnership's equity method basis in these properties.
All of the Partnership's investments have an equity method basis of zero at June
30, 2004.
The average occupancy level of the Operating Partnerships, in total, remained
relatively constant for the three months ended June 30, 2004 and 2003.
The majority of the properties owned by the Operating Partnerships are in a
position of functional obsolescence and need substantial rehabilitation. The
Operating Partnerships do not have the funds to address the growing deferred
maintenance. Infusion of capital is necessary to keep the projects viable and
maintain them as decent, safe and quality housing. Refinancing is not an option
in view of the indebtedness on the properties surpassing their fair market
value.
Liquidity and Capital Resources
As of June 30, 2004, the Partnership's portfolio consists of 12 properties. The
properties are located in 11 states and contain 1,787 residential units. The
average occupancy level for all properties during calendar year 2003 was
approximately 93% and most properties generated sufficient revenue to cover
operating costs, debt service, and the funding of reserves.
12
The government restricts rental rate increases. A substantial amount of the
revenue generated by these properties comes from rental subsidy payments made by
federal or state housing agencies. These features, which are characteristic of
all low-income housing properties, limit the pool of potential buyers for these
real estate assets. As a limited partner of the Operating Partnerships, the
Partnership does not control property disposition decisions, and management is
aware of the intention of the General Partners of the Partnership to sell the
investment properties in the near future.
The partnership is currently experiencing a liquidity problem. Under the
Partnership Agreement, the Partnership is entitled to receive distributions of
surplus cash from the Operating Partnerships, which is to provide the funds
necessary for the Partnership to meet its operating costs. At the present time,
the Operating Partnerships have not generated sufficient cash distributions to
enable the Partnership to meet its current obligations. As a result of the
foregoing, the Partnership has been dependent upon its affiliates and the
General Partners for continued financial support to meet its expenses. Though
there can be no assurance, management believes that affiliates and/or the
General Partners, though not required to do so, will continue to fund operations
of the Partnership and defer receipt of payment of allocated overhead
administrative expenses and partnership management fees. Allocated
administrative expenses paid or accrued to affiliates and the General Partners
represent reimbursement of the actual cost of goods and materials used for or by
the Partnership, salaries, related payroll costs and other administrative items
incurred or allocated, and direct expenses incurred in rendering legal,
accounting/bookkeeping, computer, printing and public relations services. Items
excluded from the overhead allocation include overhead expenses of the General
Partners, including rent and salaries of employees not specifically performing
the services described above. Unpaid allocated administrative expenses and
partnership management fees, an annual amount up to .5% of invested assets, will
accrue for payment in future operating years.
Management believes the possibility exists that one or several Operating
Partnerships may require additional capital, in addition to that previously
contributed by the Partnership, to sustain operations. In such case, the source
of the required capital needs may be from (i) limited reserves from the
Partnership (which may include distributions received from the Operating
Partnerships that would otherwise be available for distribution to partners),
(ii) debt financing at the Operating Partnership level (which may not be
available), or (iii) additional equity contributions from the general partner of
the Operating Partnerships (which may not be available). There can be no
assurance that any of these sources would be readily available to provide for
possible additional capital requirements which may be necessary to sustain the
operations of the Operating Partnerships. However, the Partnership is under no
obligation to fund operating deficits of the Operating Partnerships in the form
of additional contributions or loans.
Due to the uncertainty of the continuation of the Section 8 program, management
has been forced to consider several options to prepare for the possible lack of
subsidy income to the Operating Partnerships. The loss of subsidy income to the
Operating Partnerships will make it more difficult for the Operating
Partnerships to provide sufficient cash distributions to the Partnership.
Management has identified the courses of action they will take as a result of
the potential changes to the Section 8 program.
13
CRITICAL ACCOUNTING POLICIES
Management's discussion and analysis of financial condition and results of
operations are based upon our unaudited financial statements which have been
prepared in accordance with accounting principles generally accepted in the
United States. Such financial statement preparation requires management to make
judgments and use estimates regarding significant accounting policies. We
consider an accounting policy to be significant if it is important to our
financial condition and results, and requires significant judgment and estimates
on the part of management in its application. A summary of our significant
accounting policies is included in Note 2 to our financial statements for the
year ended March 31, 2004, which are included in the Form 10-K. Our significant
accounting estimates and the related assumptions are evaluated periodically as
conditions warrant, and changes to such estimates are recorded as new
information or changed conditions require revision. Application of the critical
accounting policies requires management's significant judgments, often as the
result of the need to make estimates for matters that are inherently uncertain.
If actual results were to differ materially from the estimates made, the
reported results could be materially affected. There have been no significant
changes in the application of the critical accounting policies, or in the
assumptions or estimates relating thereto, since March 31, 2004.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Due to the nature of our operations, we have concluded that there is no material
market risk exposure and, therefore, no quantitative tabular disclosures are
required.
ITEM 4. CONTROLS AND PROCEDURES
(a) Evaluation of Disclosure Controls and Procedures
The Partnership's Chief Executive Officer and Chief Financial Officer have
reviewed and evaluated the effectiveness of the Partnership's disclosure
controls and procedures (as defined in Exchange Act Rules 240.13a-14(C) and
15d-14(c)) as of the end of the period covered by this report. Based on that
evaluation, they have concluded that the Partnership's current disclosure
controls and procedures are effective in timely providing them with material
information relating to the Partnership required to be disclosed in the reports
of the Partnership files or submits under the Exchange Act.
(b) Changes in Internal Controls
During the period covered by this report, there have not been any significant
changes in the Partnership's internal controls or in other factors that could
significantly affect these controls. There were no significant deficiencies or
material weaknesses, and, therefore, no corrective actions were taken.
PART II OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS - None
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS - None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES - None
14
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None
ITEM 5. OTHER INFORMATION - None
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
We have listed the exhibits by numbers corresponding to the Exhibit Table of
Item 601 in Regulation S-K on the Exhibit list attached to this report.
(b) Reports on Form 8-K
None
15
* * * SIGNATURE * * *
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Date: July 5, 2005
CENTURY PACIFIC HOUSING FUND-I
a California limited partnership
By: Century Pacific Capital Corporation,
a California Corporation
General Partner
/s/Irwin J. Deutch
By: ------------------
Irwin J. Deutch
President
16
EXHIBITS
Exhibit
Number Description
- ------- -----------
31.1 Certification Pursuant to 15 U.S.C. Section 7241, as Adopted
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
31.2 Certification Pursuant to 15 U.S.C. Section 7241, as Adopted
Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
32.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
32.2 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
* Filed herewith