"Form 8-K"
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 22, 2003 (September 19, 2003)
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CAPITAL PROPERTIES, INC.
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(Exact name of registrant as specified in its charter)
Rhode Island
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(State or other jurisdiction of incorporation)
0-9380 05-0386287
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(Commission File Number) (IRS Employer Identification Number)
100 Dexter Road, East Providence, Rhode Island 02914
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(Address of principal executive offices)
(401) 435-7171
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
Capital Properties, Inc. (the "Company") announced on September 19, 2003
that the Company has agreed to a settlement with the City of Providence, Rhode
Island of all litigation resulting from tax appeals filed by the Company with
the City for real estate taxes covering the years 1994 through 1999, 2001 and
2002 on properties located in the Capital Center area in downtown Providence,
Rhode Island. The total settlement is in the amount of $1,699,950 and must be
approved by the Providence City Council. The Agreement does not establish
assessed values for any of the property except with respect to Parcels 7A and
Parcel 6. The settlement has been introduced in the City Council and referred to
the Council's Finance Committee. No date for a hearing has been set. The City
has indicated that payment will be made promptly after Council approval.
A more complete description of the litigation with the City of Providence
is contained in Note 6 to the Company's financial statements contained in
its June 30, 2003 report on Form 10 - QSB as filed with the Securities and
Exchange Commission.
Certain statements set forth above constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on management's current expectations and
include known and unknown risks, uncertainties and other factors, many of which
could cause the results or performance to differ materially from any future
results or performance expressed or implied by such forward-looking statements.
These statements involve risks, uncertainties and other factors detailed from
time to time in the Registrant's filings with the Securities and Exchange
Commission. The Company cautions investors that any forward-looking statements
made by the Company are not guarantees of future performance. The Company
disclaims any obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements included
herein to reflect future events or developments.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
99.1 Press Release regarding litigation settlement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
CAPITAL PROPERTIES, INC.
By: /s/ Barbara J. Dreyer
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Barbara J. Dreyer, Treasurer
Date: September 22, 2003