UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q


(Mark One)
[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

For the quarterly period ended  September 30, 1996
                                ------------------------------------------------
[  ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

For the transition period from                         to
                              -------------------------  -----------------------

                             Commission file number
                                     0-17626


                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP
                                       and
                    FFCA INVESTOR SERVICES CORPORATION 88-B
--------------------------------------------------------------------------------
               (Exact Name of Co-Registrants as Specified in Their
                            Organizational Documents)


          Delaware                                          86-0588512
--------------------------------------------------------------------------------
(Partnership State of Organization)                 (Partnership I.R.S. Employer
                                                        Identification Number)

          Delaware                                          86-0588514
--------------------------------------------------------------------------------
(Corporation State of Incorporation)                (Corporation I.R.S. Employer
                                                        Identification Number)

The Perimeter Center
17207 North Perimeter Drive
Scottsdale, Arizona                                                     85255
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (zip code)


Co-Registrants' telephone number including area code     (602) 585-4500
                                                       -------------------------

Indicate by 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
                                 -----         -----
<PAGE>
PART 1 - FINANCIAL INFORMATION

    Item l.  Financial Statements.
    -------  ---------------------



                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                 BALANCE SHEETS
                    SEPTEMBER 30, 1996 AND DECEMBER 31, 1995
                                   (Unaudited)


                                                   September 30,    December 31,
                                                       1996            1995
                                                   ------------    ------------
                                     ASSETS
                                     ------

CASH AND CASH EQUIVALENTS                          $  1,470,884    $  1,362,963

LAND HELD FOR SALE                                   29,908,568      30,087,685

LAND SUBJECT TO SALES AGREEMENTS                           --         2,016,693

LAND SUBJECT TO SALES AGREEMENT
      WITH AFFILIATE                                    788,287         788,287

LOAN RECEIVABLE FROM AFFILIATE                        7,598,415       7,598,415

PREPAID EXPENSES AND OTHER                              104,291         170,742
                                                   ------------    ------------

                     Total assets                  $ 39,870,445    $ 42,024,785
                                                   ============    ============


                       LIABILITIES AND PARTNERS' CAPITAL
                       ---------------------------------


PAYABLE TO GENERAL PARTNER                         $       --      $     27,097

ACCOUNTS PAYABLE AND ACCRUED EXPENSES                   194,247         106,703
                                                   ------------    ------------

                     Total liabilities                  194,247         133,800
                                                   ------------    ------------

PARTNERS' CAPITAL (DEFICIT):
      General partner                                   (12,791)        (12,601)
      Limited partners                               39,688,989      41,903,586
                                                   ------------    ------------

                     Total partners' capital         39,676,198      41,890,985
                                                   ------------    ------------

                     Total liabilities and
                      partners' capital            $ 39,870,445    $ 42,024,785
                                                   ============    ============
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                                   (Unaudited)





<TABLE>
<CAPTION>
                                                Three Months      Three Months     Nine Months      Nine Months
                                                    Ended            Ended            Ended            Ended
                                                   9/30/96          9/30/95          9/30/96          9/30/95
                                                 -----------      -----------      -----------      -----------
<S>                                              <C>              <C>              <C>              <C>
REVENUES:
      Land sales                                 $      --        $      --        $ 4,010,638      $      --
      Interest on loan to affiliate                  212,500          212,500          637,500          637,500
      Interest on investments and other               19,951           18,171          109,776           53,043
                                                 -----------      -----------      -----------      -----------

                                                     232,451          230,671        4,757,914          690,543
                                                 -----------      -----------      -----------      -----------

EXPENSES:
      Cost of land sales                                --               --          2,380,847             --
      General partner fees                            90,123           69,489          271,021          207,917
      Property management fees                         9,000            9,000           27,000           27,000
      Marketing                                       16,675           10,688           77,342           35,927
      Property taxes                                  45,882           48,537          132,126          139,841
      Other operating                                 90,336          100,025          258,761          244,439
                                                 -----------      -----------      -----------      -----------

                                                     252,016          237,739        3,147,097          655,124
                                                 -----------      -----------      -----------      -----------

NET INCOME (LOSS)                                $   (19,565)     $    (7,068)     $ 1,610,817      $    35,419
                                                 ===========      ===========      ===========      ===========

NET INCOME (LOSS) ALLOCATED TO:
      General partner                            $      (196)     $       (71)     $      (190)     $       354
      Limited partners                               (19,369)          (6,997)       1,611,007           35,065
                                                 -----------      -----------      -----------      -----------

                                                 $   (19,565)     $    (7,068)     $ 1,610,817      $    35,419
                                                 ===========      ===========      ===========      ===========


NET INCOME (LOSS) PER LIMITED
      PARTNERSHIP UNIT (based on
      50,000 units held by limited partners)     $      (.39)     $      (.14)     $     32.22      $       .70
                                                 ===========      ===========      ===========      ===========
</TABLE>
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996
                                   (Unaudited)





<TABLE>
<CAPTION>
                                                                    Limited Partners
                                               General        -----------------------------
                                               Partner          Number                              Total
                                               Amount           of Units           Amount           Amount
                                            ------------      ------------     ------------      ------------
<S>                                         <C>                     <C>        <C>               <C>
BALANCE, December 31, 1995                  $    (12,601)           50,000     $ 41,903,586      $ 41,890,985

      Net Income (Loss)                             (190)             --          1,611,007         1,610,817

      Distributions to Limited Partners             --                --         (3,825,604)       (3,825,604)
                                            ------------      ------------     ------------      ------------

BALANCE, September 30, 1996                 $    (12,791)           50,000     $ 39,688,989      $ 39,676,198
                                            ============      ============     ============      ============
</TABLE>
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
                                   (Unaudited)





<TABLE>
<CAPTION>
                                                                           1996             1995
                                                                       -----------      -----------
<S>                                                                    <C>              <C>        
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net income                                                        $ 1,610,817      $    35,419
     Change in assets and liabilities:
        Decrease in land held for sale                                     179,117             --
        Decrease in land subject to sales agreements                     2,016,693             --
        Decrease in prepaid expenses and other                              66,451           18,435
        Decrease in payable to general partner                             (27,097)            --
        Increase (decrease) in accounts
           payable and accrued expenses                                     87,441          (67,458)
                                                                       -----------      -----------

               Net cash provided by (used in) operating activities       3,933,422          (13,604)
                                                                       -----------      -----------

CASH FLOWS FOR FINANCING ACTIVITIES:
     Distributions to limited partners                                  (3,825,501)            --
                                                                       -----------      -----------

NET INCREASE (DECREASE) IN CASH
     AND CASH EQUIVALENTS                                                  107,921          (13,604)

CASH AND CASH EQUIVALENTS, beginning of period                           1,362,963        1,329,484
                                                                       -----------      -----------

CASH AND CASH EQUIVALENTS, end of period                               $ 1,470,884      $ 1,315,880
                                                                       ===========      ===========
</TABLE>
<PAGE>
PART I  -  FINANCIAL INFORMATION
--------------------------------



Item 2.       Management's Discussion and Analysis of
-------       Financial Condition and Results of Operations
              ---------------------------------------------

      Scottsdale  Land  Trust  Limited  Partnership  (the  Registrant)  received
      $50,000,000  in gross  proceeds  from its public  offering of the Units on
      November 23, 1988. After deducting  organizational  and offering expenses,
      including   selling  expenses,   the  financial   advisory  fee,  property
      acquisition fee and due diligence  expense  reimbursement,  the Registrant
      had $43,250,000 in net proceeds available for investment. The net proceeds
      were used to  purchase  the  property  (The  Perimeter  Center),  fund the
      construction of the infrastructure and fund the $8.5 million FFCA loan, in
      accordance with the partnership agreement. Pursuant to the Loan Agreement,
      FFCA makes  monthly  payments of interest  only to the  Registrant  and is
      current  on such  payments.  All  unexpended  funds are  invested  in U.S.
      Government Agency discount notes and bank repurchase agreements (which are
      secured by United States  Treasury and Government  obligations).  Reserves
      remaining in the Registrant  approximate $1.3 million.  These reserves may
      be used from time to time to pay  amounts  assessed  by the city or county
      taxing  authorities for developmental or other costs.  Aside from the sale
      of land parcels,  the Registrant's primary sources of revenue are interest
      payments  received from FFCA under the Loan Agreement and interest  earned
      on  the  Registrant's  temporary  investments.   During  the  period,  the
      Registrant  entered into preliminary  negotiations for the sale of several
      of the smaller land  parcels  located  within The  Perimeter  Center.  The
      Registrant  cannot  determine  which, if any, of these  negotiations  will
      result in the sale of a land parcel  and,  therefore,  cannot  predict the
      timing  or  amount  of  any   future   cash   distribution.   Year-to-date
      distributions declared from parcel sales amounted to $3,825,604.

      Revenues for the period primarily consisted of interest earned on the FFCA
      loan,  and  remained  constant as compared to the same period of the prior
      year.  Total  expenses  for the  period  increased  by  $14,277  over  the
      comparable  period of the prior year due to increases  in general  partner
      fees and  marketing  expenses,  offset  partially by decreases in property
      taxes and other operating expenses.  General partner fees increased during
      the period because in the comparable period of the prior year, the general
      partner, in its discretion,  permanently waived $24,261 of the partnership
      management  fees  otherwise  payable by the  Registrant.  Marketing  costs
      increased by $5,987 during the period due to increased  marketing  efforts
      at The Perimeter Center.  The decrease in property taxes resulted from the
      sale of land parcels earlier this year.

      In the opinion of management,  the financial  information included in this
      report reflects all adjustments necessary for fair presentation.  All such
      adjustments are of a normal recurring nature.
<PAGE>
                     FFCA INVESTOR SERVICES CORPORATION 88-B
                     ---------------------------------------


                       BALANCE SHEET - SEPTEMBER 30, 1996
                       ----------------------------------





                                     ASSETS


Cash                                                                       $100
Investment in Scottsdale Land Trust Limited Partnership, at cost            100
                                                                           ----

         Total Assets                                                      $200
                                                                           ====

                                    LIABILITY

Payable to Parent                                                          $100


                              STOCKHOLDER'S EQUITY


Common Stock; $l par value; 100 shares authorized,
    issued and outstanding                                                  100
                                                                           ----
         Liability and Stockholder's Equity                                $200
                                                                           ====



Note: FFCA Investor Services Corporation 88-B (88-B) was organized on August 11,
1987 to act as the assignor  limited  partner in  Scottsdale  Land Trust Limited
Partnership  (SLT).  The assignor  limited partner is the owner of record of the
limited  partnership  units of SLT.  All  rights  and  powers  of 88-B have been
assigned to the holders,  who are the registered  and  beneficial  owners of the
units.  Other  than to  serve as  assignor  limited  partner,  88-B has no other
business purpose and will not engage in any other activity or incur any debt.
<PAGE>
                                   SIGNATURES
                                   ----------

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
      registrant  has  caused  this  report to be  signed  on its  behalf by the
      undersigned thereunto duly authorized.

                                SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                By FFCA MANAGEMENT COMPANY, L.P.
                                General Partner


                                By PERIMETER CENTER MANAGEMENT COMPANY
                                Corporate General Partner


      Date:    October 7, 1996           By /s/ John R. Barravecchia
                                   ---------------------------------------------
                                   John R. Barravecchia, Chief Financial Officer
<PAGE>
                                   SIGNATURES
                                   ----------

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
        co-registrant  has caused  this report to be signed on its behalf by the
        undersigned thereunto duly authorized.

                                        FFCA INVESTOR SERVICES CORPORATION 88-B



      Date:    October 7, 1996               By /s/ John R. Barravecchia
                                        ----------------------------------------
                                        John R. Barravecchia, President