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MBS Investments (Tables)
 12 Months Ended
Dec. 31, 2012
MBS Investments [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
The carrying value of each of the Partnership's tax-exempt mortgage revenue bonds as of December 31, 2012 and 2011 is as follows:
 
 
December 31, 2012
Description of Tax-Exempt
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Mortgage Revenue Bonds
 
for pay-downs
 
Gain
 
Loss
 
Fair Value
Ashley Square (1)
 
$
5,260,000

 
$
246,981

 
$
—

 
$
5,506,981

Autumn Pines (2)
 
12,217,004

 
953,024

 
—

 
13,170,028

Bella Vista (1)
 
6,600,000

 
93,324

 
—

 
6,693,324

Bridle Ridge (1)
 
7,765,000

 
108,632

 
—

 
7,873,632

Brookstone (1)
 
7,453,246

 
1,459,408

 
—

 
8,912,654

Cross Creek (1)
 
6,004,424

 
1,994,911

 
—

 
7,999,335

Lost Creek (1)
 
15,987,744

 
3,467,182

 
—

 
19,454,926

Runnymede (1)
 
10,605,000

 
491,330

 
—

 
11,096,330

Southpark (1)
 
11,904,968

 
2,462,350

 
—

 
14,367,318

Woodlynn Village (1)
 
4,460,000

 
—

 
(446
)
 
4,459,554

Tax-exempt mortgage revenue bonds held in trust
 
$
88,257,386

 
$
11,277,142

 
$
(446
)
 
$
99,534,082

 
 
 
 
 
 
 
 
 
Description of Tax-Exempt
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Mortgage Revenue Bonds
 
for pay-downs
 
Gain
 
Loss
 
Fair Value
Arbors at Hickory Ridge
 
$
11,581,485

 
$
610,785

 
$
—

 
$
12,192,270

Iona Lakes
 
15,535,000

 
554,910

 
—

 
16,089,910

Vantage at Judson
 
6,049,000

 
—

 
(847
)
 
6,048,153

Woodland Park
 
15,662,000

 
—

 
(4,289,039
)
 
11,372,961

Tax-exempt mortgage revenue bonds
 
$
48,827,485

 
$
1,165,695

 
$
(4,289,886
)
 
$
45,703,294

 
 
 
 
 
 
 
 
 
(1) Bonds owned by ATAX TEBS I, LLC, Note 11
(2) Bond held by Duetsche Bank in a secured financing transaction, Note 11
 
 
December 31, 2011
Description of Tax-Exempt
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Mortgage Revenue Bonds
 
for pay-downs
 
Gain
 
Loss
 
Fair Value
Ashley Square (1)
 
$
5,308,000

 
$
—

 
$
—

 
$
5,308,000

Autumn Pines (2)
 
12,280,776

 
—

 
(152,094
)
 
12,128,682

Bella Vista (1)
 
6,650,000

 
—

 
(405,184
)
 
6,244,816

Bridle Ridge (1)
 
7,815,000

 
—

 
(469,056
)
 
7,345,944

Brookstone (1)
 
7,437,947

 
1,116,538

 
—

 
8,554,485

Cross Creek (1)
 
5,961,478

 
1,824,167

 
—

 
7,785,645

GMF Madison
 
3,810,000

 
51,130

 
—

 
3,861,130

GMF Warren/Tulane
 
11,815,000

 
321,722

 
—

 
12,136,722

Lost Creek (1)
 
16,051,048

 
1,962,587

 
—

 
18,013,635

Runnymede (1)
 
10,685,000

 
—

 
(434,452
)
 
10,250,548

Southpark (1)
 
11,925,483

 
1,431,637

 
—

 
13,357,120

Woodlynn Village (1)
 
4,492,000

 
—

 
(325,940
)
 
4,166,060

Tax-exempt mortgage revenue bonds held in trust
 
$
104,231,732

 
$
6,707,781

 
$
(1,786,726
)
 
$
109,152,787

 
 
 
Description of Tax-Exempt
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Mortgage Revenue Bonds
 
for pay-downs
 
Gain
 
Loss
 
Fair Value
Iona Lakes
 
$
15,720,000

 
$
160,658

 
$
—

 
$
15,880,658

Woodland Park
 
15,662,000

 
—

 
(5,000,093
)
 
10,661,907

Tax-exempt mortgage revenue bonds
 
$
31,382,000

 
$
160,658

 
$
(5,000,093
)
 
$
26,542,565

The Company had the following investments in the PHC Certificates on December 31, 2012:
Description of Public Housing Capital Fund Trust Certificates
 
Cost adjusted for amortization of premium and discounts
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value
 
 
 
 
 
 
 
 
 
Public Housing Capital Fund Trust Certificate I
 
$
28,119,176

 
$
—

 
$
(48,477
)
 
$
28,070,699

Public Housing Capital Fund Trust Certificate II
 
17,442,860

 
—

 
(109,223
)
 
17,333,637

Public Housing Capital Fund Trust Certificate III
 
20,395,597

 
—

 
(410,635
)
 
19,984,962

 
 
$
65,957,633

 
$
—

 
$
(568,335
)
 
$
65,389,298

The carrying value of the Company's MBS as of December 31, 2012 is as follows:
Agency Rating of MBS (1)
 
Cost adjusted for amortization of premium
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value
"AAA"
 
$
13,127,402

 
$
—

 
$
(129,613
)
 
$
12,997,789

"AA"
 
19,407,675

 
—

 
(284,052
)
 
19,123,623


 
$
32,535,077

 
$
—

 
$
(413,665
)
 
$
32,121,412
Marketable Securities [Table Text Block]
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, 2012
Public Housing Capital Fund Trust Certificate I
 
12.75
 
AA-
 
5.33%
 
$
26,406,558

Public Housing Capital Fund Trust Certificate II
 
12.3
 
AA-
 
4.24%
 
17,959,713

Public Housing Capital Fund Trust Certificate III
 
13.3
 
BBB
 
5.41%
 
20,898,432

Total Public Housing Capital Fund Trust Certificates
 
 
 
 
 
 
 
$
65,264,703

Description of certain terms of the Company's MBS is as follows:
 
Agency Rating of MBS
 
Principal Outstanding December 31, 2012
 
Weighted Average Maturity Date
 
Weighted Average Coupon Interest Rate
 
 
 
"AAA"
 
$
12,675,000

 
1/14/2036
 
4.22
%
 
"AA"
 
18,945,000

 
1/18/2036
 
4.00
%
 
 
 
$
31,620,000