Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis are summarized below:

			Fair Value Measurements at June 30, 2012
Description	Assets/Liabilities at Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Tax-exempt Mortgage Revenue Bonds	$	136,846,619	$	—		$	—		$	136,846,619
Interest Rate Derivatives	542,773		—			—			542,773
Total Assets at Fair Value	$	137,389,392	$	—		$	—		$	137,389,392
			For Three Months Ended June 30, 2012
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Tax-exempt Mortgage Revenue Bonds			Interest Rate Derivatives			Total
Beginning Balance April 1, 2012			$	138,576,178		$	993,930		$	139,570,108
Total gains (losses) (realized/unrealized)
Included in earnings			—			(451,157		)	(451,157		)
Included in other comprehensive income			4,047,983			—			4,047,983
Purchases			10,164,815			—			10,164,815
Sale of tax-exempt revenue bonds			(15,625,000		)	—			(15,625,000		)
Settlements			(317,357		)	—			(317,357		)
Ending Balance June 30, 2012			$	136,846,619		$	542,773		$	137,389,392
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of June 30, 2012			$	—		$	(451,157	)	$	(451,157	)

	For Six Months Ended June 30, 2012
	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	Tax-exempt Mortgage Revenue Bonds			Interest Rate Derivatives			Total
Beginning Balance January 1, 2012	$	135,695,352		$	1,323,270		$	137,018,622
Total gains (losses) (realized/unrealized)
Included in earnings	—			(780,497		)	(780,497		)
Included in other comprehensive income	6,889,571			—			6,889,571
Purchases	10,164,815			—			10,164,815
Sale of tax-exempt revenue bonds	(15,625,000		)	—			(15,625,000		)
Settlements	(278,119		)	—			(278,119		)
Ending Balance June 30, 2012	$	136,846,619		$	542,773		$	137,389,392
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of June 30, 2012	$	—		$	(780,497	)	$	(780,497	)

			Fair Value Measurements at December 31, 2011
Description	Assets/Liabilities at Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
Tax-exempt Mortgage Revenue Bonds	$	135,695,352	$	—	$	—		$	135,695,352
Interest Rate Derivatives	1,323,270		—		—			1,323,270
Total Assets at Fair Value	$	137,018,622	$	—	$	—		$	137,018,622
			For Three Months Ended June 30, 2011
			Fair Value Measurements Using Significant
			Unobservable Inputs (Level 3)
			Tax-exempt Mortgage Revenue Bonds		Interest Rate Derivatives			Total
Beginning Balance April 1, 2011			$	107,927,564	$	3,174,237		$	111,101,801
VIE deconsolidation			15,810,000		—			15,810,000
Total gains (losses) (realized/unrealized)
Included in earnings			—		(656,000)			(656,000)
Included in other comprehensive income			3,790,432		—			3,790,432
Purchases			15,625,000		—			15,625,000
Bond retirement			(5,795,000)		—			(5,795,000)
Settlements			(52,188)		—			(52,188)
Ending Balance June 30, 2011			$	137,305,808	$	2,518,237		$	139,824,045
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of June 30, 2011			$	—	$	(656,000	)	$	(656,000	)

	For Six Months Ended June 30, 2011
	Fair Value Measurements Using Significant
	Unobservable Inputs (Level 3)
	Tax-exempt Mortgage Revenue Bonds			Interest Rate Derivatives			Total
Beginning Balance January 1, 2011	$	100,566,643		$	3,406,791		$	103,973,434
VIE deconsolidation	15,083,757			—			15,083,757
Total gains (losses) (realized/unrealized)
Included in earnings	—			(888,554		)	(888,554		)
Included in other comprehensive income	6,639,472			—			6,639,472
Purchases	20,117,500			—			20,117,500
Bond retirement	(5,047,208		)	—			(5,047,208		)
Settlements	(54,356		)	—			(54,356		)
Ending Balance June 30, 2011	$	137,305,808		$	2,518,237		$	139,824,045
Total amount of losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets or liabilities still held as of June 30, 2011	$	—		$	(888,554	)	$	(888,554	)

Fair Value, by Balance Sheet Grouping [Table Text Block]

Below represents the fair market value of the debt held on the balance sheet for June 30, 2012 and December 31, 2011, respectively.

	June 30, 2012		December 31, 2011
	Carrying Amount	Fair Value	Carrying Amount	Fair Value
Financial Liabilities:
Debt financing	104,328,000	105,590,417	112,673,000	115,106,332
Mortgages payable	43,231,990	44,142,663	46,243,883	46,932,670