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Other Assets (Tables)
 12 Months Ended
Dec. 31, 2014
Other Assets [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
the Partnership has made taxable property loans to these consolidated VIEs of $7.4 million and $7.1 million as of December 31, 2014 and 2013, respectively.
VIEs - December 31, 2014
 
 
 
 
 
 
Base
 
Principal
 
Income
 
 
 
 
Maturity
 
Interest
 
Outstanding at
 
Earned in
Property Name
 
Location
 
Date
 
Rate
 
December 31, 2014
 
2014
Bent Tree Apartments (1)
 
Columbia, SC
 
12/15/2030
 
6.25
%
 
$
7,465,000

 
$
468,859

Fairmont Oaks Apartments (1)
 
Gainesville, FL
 
4/1/2033
 
6.30
%
 
7,266,000

 
460,420

Total Mortgage Revenue Bonds
 
 
 
 
 
 
 
$
14,731,000

 
$
929,279

(1) Bonds held by ATAX TEBS I, LLC
VIEs - December 31, 2013
 
 
 
 
 
 
Base
 
Principal
 
Income
 
 
 
 
Maturity
 
Interest
 
Outstanding at
 
Earned in
Property Name
 
Location
 
Date
 
Rate
 
December 31, 2013
 
2013
Bent Tree Apartments (1)
 
Columbia, SC
 
12/15/2030
 
6.25
%
 
$
7,542,000

 
$
473,438

Fairmont Oaks Apartments (1)
 
Gainesville, FL
 
4/1/2033
 
6.30
%
 
$
7,355,000

 
$
465,791

Total Mortgage Revenue Bonds
 
 
 
 
 
 
 
$
14,897,000

 
$
939,229

(1) Bonds held by ATAX TEBS I, LLC
The following is a summary of the taxable loans, accrued interest and allowance on amounts due at December 31, 2014 and 2013 :
 
December 31, 2014
 
Outstanding Balance
 
Accrued Interest
 
Loan Loss Reserves
 
Interest Allowance
 
Net Taxable 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

 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
Outstanding Balance
 
Accrued Interest
 
Loan Loss Reserves
 
Interest Allowance
 
Net Taxable Loans
Arbors at Hickory Ridge
$
191,264

 
$
12,979

 
$
—

 
$
—

 
$
204,243

Ashley Square
5,078,342

 
2,053,415

 
(3,596,342
)
 
(2,053,415
)
 
1,482,000

Cross Creek
6,821,087

 
1,825,389

 
(3,372,472
)
 
(1,825,389
)
 
3,448,615

Foundation for Affordable Housing
1,603,083

 
13,989

 
—

 
—

 
1,617,072

Greens Property
876,000

 
130,563

 
—

 
(921
)
 
1,005,642

Lake Forest
4,618,704

 
2,148,881

 
(55,000
)
 
(2,128,046
)
 
4,584,539

Ohio Properties
2,361,447

 
585,377

 
—

 
(186,706
)
 
2,760,118

 
$
21,549,927

 
$
6,770,593

 
$
(7,023,814
)
 
$
(6,194,477
)
 
$
15,102,229
Schedule of Other Assets [Table Text Block]
The Company had the following Other Assets as of dates shown:
 
 
December 31, 2014
 
December 31, 2013
Property loans receivable
 
$
22,191,515

 
$
21,549,927

Less: Loan loss reserves
 
(7,098,814
)
 
(7,023,814
)
Deferred financing costs - net
 
4,659,104

 
2,503,679

Fair value of derivative contracts
 
267,669

 
888,120

Taxable bonds at fair value
 
4,616,565

 
4,075,953

Assets held for sale
 
—

 
1,465,000

Bond purchase commitment - fair value adjustment (Notes 4 & 16)
5,780,413

 
—

Other assets
 
885,075

 
899,426

 Total Other Assets
 
$
31,301,527

 
$
24,358,291
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:
 
 
2014
 
2013
 
2012
Balance, beginning of year
 
$
7,023,814

 
$
12,272,671

 
$
12,272,671

Realized loss on taxable 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

 
$
7,023,814

 
$
12,272,671