PHC Certificates (Tables)

12 Months Ended

Dec. 31, 2015

The Partnership had the following investments in the PHC Certificates on December 31, 2015 and 2014:

	December 31, 2015
Description of PHC Certificates	Cost Adjusted for Paydowns		Unrealized Gain		Unrealized Loss			Estimated Fair Value
PHC Certificate Trust I	$	27,274,451	$	1,482,376	$	-		$	28,756,827
PHC Certificate Trust II		11,081,987		365,443		-			11,447,430
PHC Certificate Trust III		20,513,351		-		(10,318	)		20,503,033
	$	58,869,789	$	1,847,819	$	(10,318	)	$	60,707,290

	December 31, 2014
Description of PHC Certificates	Cost Adjusted for Paydowns		Unrealized Gain		Unrealized Loss		Estimated Fair Value
PHC Certificate Trust I	$	27,414,100	$	933,789	$	-	$	28,347,889
PHC Certificate Trust II		11,999,721		152,293		-		12,152,014
PHC Certificate Trust III		20,474,100		289,120		-		20,763,220
	$	59,887,921	$	1,375,202	$	-	$	61,263,123

The following table sets forth certain information relating to the PHC Certificates held in the PHC TOB Trusts:

	Weighted Average Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life	Principal Outstanding December 31, 2015
Public Housing Capital Fund Trust Certificate I		9.25	AA-	5.33%	$	25,980,780
Public Housing Capital Fund Trust Certificate II		8.67	A+	4.29%		11,465,660
Public Housing Capital Fund Trust Certificate III		9.81	BBB	5.42%		20,898,432
Total Public Housing Capital Fund Trust Certificates					$	58,344,872

	Weighted Average Lives (Years)		Investment Rating	Weighted Average Interest Rate over Life	Principal Outstanding December 31, 2014
Public Housing Capital Fund Trust Certificate I		10.25	AA-	5.33%	$	25,980,780
Public Housing Capital Fund Trust Certificate II		9.72	A+	4.28%		12,429,186
Public Housing Capital Fund Trust Certificate III		10.81	BBB	5.42%		20,898,432
Total Public Housing Capital Fund Trust Certificates					$	59,308,398