Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Commitments And Contingencies [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

On December 31, 2015 and 2014 the Bond Purchase Commitments outstanding and the related fair values are as follows:

Bond Purchase Commitments	Commitment Date	Maximum Committed Amounts for 2016 through 2018		Maximum Committed Amounts for 2015		Rate			Closing Date(1)	Fair Value at December 31, 2015		Fair Value at December 31, 2014
Silver Moon Apartments	June-13	$	-	$	8,000,000		6.00	%	Q2 2015	$	-	$	413,600
Vantage at Harlingen - Series B	August-13		-		18,000,000		6.00	%	Q2 2015		-		1,433,700
Vantage at Judson - Series B	December-12		-		26,700,000		6.00	%	Q2 2015		-		1,990,535
15 West Apartments	July-14		9,900,000		-		6.25	%	Q2 2016		945,009		809,178
Villas at Plano Gateway    Apartments	December-14		20,000,000		-		6.00	%	Q3 2016		1,469,213		1,133,400
Palo Alto	July-15		19,540,000		-		5.80	%	Q3 2017		1,439,600		-
Village at Rivers Edge	May-15		11,000,000		-		6.00	%	Q2 2017		636,560		-
Village at Avalon	November-15		17,900,000		-		5.80	%	Q2 2018		1,143,978		-
Total		$	78,340,000	$	52,700,000					$	5,634,360	$	5,780,413

⁽¹⁾ The closing date is actual and estimated.