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Public Housing Capital Fund Trusts Public Housing Capital Fund Trusts (Tables)
 12 Months Ended
Dec. 31, 2013
Public Housing Capital Fund Trusts [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
The carrying value of each of the Partnership's mortgage revenue bonds as of December 31, 2013 and 2012 is as follows:
 
 
December 31, 2013
Description of Mortgage
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Revenue Bonds
 
for Pay-downs
 
Gain
 
Loss
 
Fair Value
Arbors at Hickory Ridge (2)
 
$
11,576,209

 
$
225,690

 
$
—

 
$
11,801,899

Ashley Square (1)
 
5,212,000

 
—

 
—

 
5,212,000

Autumn Pines (2)
 
12,147,873

 
—

 
(195,355
)
 
11,952,518

Avistar at Chase Hill A Bond (2)
 
8,960,000

 
—

 
(850,752
)
 
8,109,248

Avistar at the Crest A Bond (2)
 
8,759,000

 
—

 
(1,298,785
)
 
7,460,215

Avistar at the Oaks (2)
 
8,354,000

 
—

 
(1,103,115
)
 
7,250,885

Avistar in 09 (2)
 
7,192,000

 
—

 
(588,254
)
 
6,603,746

Avistar on the Boulevard A Bond (2)
 
13,760,000

 
—

 
(1,306,512
)
 
12,453,488

Avistar on the Hills (2)
 
5,389,000

 
—

 
(417,724
)
 
4,971,276

Bella Vista (1)
 
6,545,000

 
—

 
(473,989
)
 
6,071,011

Bridle Ridge (1)
 
7,715,000

 
—

 
(452,870
)
 
7,262,130

Brookstone (1)
 
7,463,641

 
841,751

 
—

 
8,305,392

Cross Creek (1)
 
6,042,297

 
1,480,266

 
—

 
7,522,563

Greens Property A Bond (2)
 
8,437,501

 
—

 
(577,426
)
 
7,860,075

Lake Forest (1)
 
8,997,000

 
—

 
(289,461
)
 
8,707,539

Lost Creek (1)
 
15,883,084

 
1,743,088

 
—

 
17,626,172

Ohio Properties A Bonds (1)
 
14,498,000

 
—

 
—

 
14,498,000

Runnymede (1)
 
10,525,000

 
—

 
(551,510
)
 
9,973,490

Southpark (1)
 
11,878,885

 
1,018,750

 
—

 
12,897,635

The Suites on Paseo (2)
 
35,750,000

 
—

 
(2,502
)
 
35,747,498

Woodlynn Village (1)
 
4,426,000

 
—

 
(340,979
)
 
4,085,021

Mortgage revenue bonds held in trust
 
$
219,511,490

 
$
5,309,545

 
$
(8,449,234
)
 
$
216,371,801

 
 
 
 
 
 
 
 
 
(1) Bonds owned by ATAX TEBS I, LLC, Note 11
(2) Bond held by Deutsche Bank in a secured financing transaction, Note 11
 
 
December 31, 2013
Description of Mortgage
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
Revenue Bonds
 
for Pay-downs
 
Gain
 
Loss
 
Fair Value
Avistar at Chase Hill B Bond
 
$
2,005,000

 
$
—

 
$
(159,117
)
 
$
1,845,883

Avistar at the Crest B Bond
 
1,700,000

 
—

 
(134,912
)
 
1,565,088

Avistar on the Boulevard B Bond
 
3,216,000

 
—

 
(255,222
)
 
2,960,778

Copper Gate Apartments
 
5,220,000

 
—

 
(252,648
)
 
4,967,352

Greens Property B Bond
 
948,291

 
189,589

 
—

 
1,137,880

Ohio Properties B Bonds
 
3,583,590

 
150,864

 
—

 
3,734,454

Renaissance
 
7,975,000

 
—

 
(16,964
)
 
7,958,036

The Palms at Premier Park
 
20,152,000

 
—

 
(283,942
)
 
19,868,058

Tyler Park Apartments
 
8,100,000

 
—

 
(526,601
)
 
7,573,399

Vantage at Harlingen
 
6,692,000

 
—

 
(211,735
)
 
6,480,265

Vantage at Judson
 
6,049,000

 
—

 
(190,423
)
 
5,858,577

Westside Village Market
 
5,400,000

 
—

 
(403,400
)
 
4,996,600

Mortgage revenue bonds
 
$
71,040,881

 
$
340,453

 
$
(2,434,964
)
 
$
68,946,370

 
 
 
 
 
 
 
 
 

 
 
December 31, 2012
Description of Mortgage
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
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

Mortgage Revenue Bonds held in trust
 
$
88,257,386

 
$
11,277,142

 
$
(446
)
 
$
99,534,082

 
 
 
Description of Mortgage
 
Cost adjusted
 
Unrealized
 
Unrealized
 
Estimated
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

Mortgage revenue bonds
 
$
48,827,485

 
$
1,165,695

 
$
(4,289,886
)
 
$
45,703,294

The Company had the following investments in the PHC Certificates on December 31, 2013 and 2012:
Description of Public Housing Capital Fund Trust Certificates
 
Cost Adjusted for Amortization of Premium and Discounts
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value at December 31, 2013
 
 
 
 
 
 
 
 
 
Public Housing Capital Fund Trust Certificate I
 
$
27,979,527

 
$
—

 
$
(1,284,873
)
 
$
26,694,654

Public Housing Capital Fund Trust Certificate II
 
17,486,739

 
—

 
(1,083,235
)
 
16,403,504

Public Housing Capital Fund Trust Certificate III
 
20,434,848

 
—

 
(1,476,627
)
 
18,958,221

 
 
$
65,901,114

 
$
—

 
$
(3,844,735
)
 
$
62,056,379


Description of Public Housing Capital Fund Trust Certificates
 
Cost Adjusted for Amortization of Premium and Discounts
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value at December 31, 2012
 
 
 
 
 
 
 
 
 
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

e carrying value of the Company's MBS as of December 31, 2013 and 2012 are as follows:
Agency Rating of MBS (1)
 
Cost adjusted for amortization of premium
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value at December 31, 2013
"AAA"
 
$
23,177,115

 
$
—

 
$
(3,069,555
)
 
$
20,107,560

"AA"
 
20,624,701

 
—

 
(2,886,600
)
 
17,738,101


 
$
43,801,816

 
$
—

 
$
(5,956,155
)
 
$
37,845,661

(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.

Agency Rating of MBS (1)
 
Cost adjusted for amortization of premium
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value at December 31, 2012
"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

(1) MBS are reported based on the lowest rating issued by a Rating Agency, if more than one rating is issued on the security, at the date presented.
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, 2013
Public Housing Capital Fund Trust Certificate I
 
12.75
 
AA-
 
5.33%
 
$
26,406,558

Public Housing Capital Fund Trust Certificate II
 
12.30
 
AA-
 
4.24%
 
17,959,713

Public Housing Capital Fund Trust Certificate III
 
13.30
 
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, 2013
 
Principal Outstanding December 31, 2012
 
Weighted Average Maturity Date
 
Weighted Average Coupon Interest Rate
 
 
 
 
 
 
"AAA"
 
$
22,710,000

 
$
12,675,000

 
12/9/2037
 
4.05
%
"AA"
 
20,120,000

 
18,945,000

 
2/5/2037
 
4.00
%
 
 
$
42,830,000

 
$
31,620,000