Exhibit (a)(5)



May 17, 2007

TO:         UNIT HOLDERS OF CENTURY PROPERTIES FUND XIV

SUBJECT:    OFFER TO PURCHASE UNITS FOR 33% MORE THAN AIMCO'S AMENDED OFFER

Dear Unit Holder:

We are amending the Offer to Purchase and related Letters of Transmittal sent to
you on  April  26,  2007,  (the  "Offer"),  which  was  made  by the  Purchasers
identified in the Offer.  The  Purchasers  are offering to purchase all Units of
limited  partnership  interest (the "Units") in CENTURY PROPERTIES FUND XIV (the
"Partnership") at the increased Offer Price of:

                                  $60 per Unit

The Offer will provide you with an  opportunity  to liquidate  all, or a portion
of, your investment in CENTURY PROPERTIES FUND XIV without the usual transaction
costs associated with market sales or partnership transfer fees. Reasons you may
wish to sell your Units include:

      o     HIGHEST  OFFER  PRICE YET.  This offer is 33%  HIGHER  than  AIMCO'S
            higher,  amended offer. Don't throw away $15 per Unit! Withdraw your
            Units from AIMCO and tender them to us!

      o     UNCERTAINTY OF PARTNERSHIP TERMINATION.  Our offer provides you with
            the  opportunity  to  receive  a  guaranteed  amount  of  money in a
            specified time period.  The general  partner has given no indication
            when the  partnership  will be  liquidating.  The  Partnership  term
            extends through 2012!

      o     NO  DISTRIBUTIONS!  The Partnership has paid no distributions  since
            2005!  The  Partnership  has stated that "there can be no  assurance
            that the Partnership will generate sufficient funds from operations,
            after planned capital  expenditures,  to permit any distributions to
            its partners in 2007 or subsequent periods." (emphasis added)

      o     NO FUTURE  IRS FILING  REQUIREMENTS.  The tax year in which you sell
            your Units will be the final year for which you will be obligated to
            file a K-1 for the  Partnership  with  your  tax  return.  This  may
            represent a reduction in costs  associated  with filing  complicated
            tax  returns.  Your  decision  to sell may have other  favorable  or
            unfavorable tax  consequences  and potential  sellers should consult
            their individual tax advisers.

The Purchasers  are extending the Expiration  Date to June 8, 2007. You can view
the amended  Offer  materials at  www.mpfi.com  (Click on MPF  Tenders).  If you
already  completed and sent a Letter of Transmittal to the Depositary,  you need
not send another,  you will automatically  receive the higher price. Please note
that a Medallion Guarantee is no longer required.

After  carefully  reading the enclosed Offer, if you elect to tender your Units,
mail (using the  enclosed  pre-addressed,  postage  paid  envelope) or fax (then
mail) a duly completed and executed copy of the Letter of  Transmittal  (printed
on pink paper) and change of address forms, and any other documents  required by
the Letter of Transmittal, to the Depositary for the Offer at:

                         MacKenzie Patterson Fuller, LP
                  1640 School Street, Moraga, California 94556
                            Facsimile: (925) 631-9119

We've  enclosed a Notice of Withdrawal  that you can fax or deliver to the agent
for AIMCO  Properties,  LP if you already  tendered  your Units to AIMCO and you
wish to receive  more  money!  The AIMCO Offer  expires on May 30, 2007  (unless
further extended), so its depository, The Altman Group, must receive your Notice
of  Withdrawal  by midnight  Eastern Time on that date for you to withdraw  from
that  offer.  You must also  deliver  to us an  executed  copy of our  Letter of
Transmittal to accept our Offer.  If you have any questions or need  assistance,
please call the Depositary at 800-854-8357.

This Offer expires (unless extended) June 8, 2007.