Other Assets (Tables)

12 Months Ended

Dec. 31, 2015

Other Assets [Abstract]

Schedule of Other Assets [Table Text Block]

The Partnership had the following Other Assets as of dates shown:

	December 31, 2015			December 31, 2014
Property loans receivable	$	29,874,523		$	22,191,515
Less: Loan loss reserves		(7,098,814	)		(7,098,814	)
Deferred financing costs - net		487,023			243,873
Fair value of derivative contracts		344,177			267,669
Taxable bonds at fair market value		4,824,060			4,616,565
Bond purchase commitments - fair value adjustment (Notes 5 & 18)		5,634,360			5,780,413
Other assets		1,655,013			717,687
Total other assets	$	35,720,342		$	26,719,088

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following is a summary of the taxable property loans, accrued interest and allowance on amounts due at December 31, 2015 and 2014:

	December 31, 2015
	Outstanding Balance		Accrued Interest		Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
Arbors at Hickory Ridge	$	191,264	$	39,950	$	-		$	-		$	231,214
Ashley Square		5,078,342		2,864,130		(3,596,342	)		(2,864,130	)		1,482,000
Avistar (February 2013 portfolio)		274,496		51,386		-			-			325,882
Avistar (June 2013 portfolio)		251,622		47,104		-			-			298,726
Cross Creek		7,072,087		2,352,851		(3,447,472	)		(2,352,852	)		3,624,614
Foundation for Affordable Housing		1,415,590		-		-			-			1,415,590
Greens Property		850,000		343,600		-			-			1,193,600
Lake Forest		4,623,704		3,080,446		(55,000	)		(3,059,610	)		4,589,540
Ohio Properties		2,390,448		1,235,017		-			(441,795	)		3,183,670
Vantage at Brooks LLC		3,454,664		78,440		-			-			3,533,104
Vantage at Braunfels LLC		4,272,306		92,481		-			-			4,364,787
	$	29,874,523	$	10,185,404	$	(7,098,814	)	$	(8,718,387	)	$	24,242,727

	December 31, 2014
	Outstanding Balance		Accrued Interest		Loan Loss Reserves			Interest Allowance			Net Taxable Property Loans
Arbors at Hickory Ridge	$	191,264	$	26,047	$	-		$	-		$	217,311
Ashley Square		5,078,342		2,455,660		(3,596,342	)		(2,455,660	)		1,482,000
Avistar (February 2013 portfolio)		274,496		16,470		-			-			290,966
Avistar (June 2013 portfolio)		251,622		15,097		-			-			266,719
Cross Creek		6,976,087		2,084,804		(3,447,472	)		(2,084,804	)		3,528,615
Foundation for Affordable Housing		1,560,553		1,735		-			-			1,562,288
Greens Property		850,000		231,342		-			-			1,081,342
Lake Forest		4,618,704		2,599,613		(55,000	)		(2,578,778	)		4,584,539
Ohio Properties		2,390,447		894,044		-			(307,832	)		2,976,659
	$	22,191,515	$	8,324,812	$	(7,098,814	)	$	(7,427,074	)	$	15,990,439

Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]

The following is a detail of loan loss reserves for the years ended December 31:

	For the Year Ended December 31,
	2015		2014		2013
Balance, beginning of year	$	7,098,814	$	7,023,814	$	12,272,671
Realized loss on taxable property loan - Iona Lakes		-		-		(4,557,741	)
Provision for loan loss		-		75,000		168,000
Deconsolidation of VIEs		-		-		55,000
Write off due to foreclosure		-		-		(914,116	)
Balance, end of year	$	7,098,814	$	7,098,814	$	7,023,814