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Other Assets (Tables)
 3 Months Ended
Mar. 31, 2016
Other Assets [Abstract]  
Schedule of Other Assets [Table Text Block]

The Partnership had the following Other Assets on March 31, 2016 and December 31, 2015:

 

 

 

March 31, 2016

 

 

December 31, 2015

 

Property loans receivable

 

$

35,702,765

 

 

$

29,874,523

 

Less: Loan loss allowance

 

 

(7,098,814

)

 

 

(7,098,814

)

Deferred financing costs - net

 

 

489,712

 

 

 

487,023

 

Fair value of derivative contracts

 

 

143,370

 

 

 

344,177

 

Taxable bonds at fair market value

 

 

4,938,104

 

 

 

4,824,060

 

Bond purchase commitments - fair value adjustment (Notes 4 & 17)

 

 

7,222,173

 

 

 

5,634,360

 

Other assets

 

 

1,594,835

 

 

 

1,655,013

 

Total other assets

 

$

42,992,145

 

 

$

35,720,342

 

 
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following is a summary of the net taxable property loans due at March 31, 2016 and December 31, 2015:

 

 

 

March 31, 2016

 

 

 

Outstanding

Balance

 

 

Accrued Interest

 

 

Loan Loss

Allowances

 

 

Interest

Allowance

 

 

Net Taxable

Property Loans

 

Arbors at Hickory Ridge

 

$

191,264

 

 

$

43,563

 

 

$

-

 

 

$

-

 

 

$

234,827

 

Ashley Square

 

 

5,078,342

 

 

 

-

 

 

 

(3,596,342

)

 

 

-

 

 

 

1,482,000

 

Avistar (February 2013 portfolio)

 

 

274,496

 

 

 

61,162

 

 

 

-

 

 

 

-

 

 

 

335,658

 

Avistar (June 2013 portfolio)

 

 

251,622

 

 

 

56,065

 

 

 

-

 

 

 

-

 

 

 

307,687

 

Cross Creek

 

 

7,078,087

 

 

 

-

 

 

 

(3,447,472

)

 

 

-

 

 

 

3,630,615

 

Foundation for Affordable Housing

 

 

1,418,075

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,418,075

 

Greens Property

 

 

850,000

 

 

 

373,440

 

 

 

-

 

 

 

-

 

 

 

1,223,440

 

Lake Forest

 

 

4,623,704

 

 

 

-

 

 

 

(55,000

)

 

 

-

 

 

 

4,568,704

 

Ohio Properties

 

 

2,390,446

 

 

 

848,249

 

 

 

-

 

 

 

-

 

 

 

3,238,695

 

Vantage at Brooks LLC

 

 

7,199,424

 

 

 

207,481

 

 

 

-

 

 

 

-

 

 

 

7,406,905

 

Vantage at Braunfels LLC

 

 

6,347,305

 

 

 

231,484

 

 

 

-

 

 

 

-

 

 

 

6,578,789

 

 

 

$

35,702,765

 

 

$

1,821,444

 

 

$

(7,098,814

)

 

$

-

 

 

$

30,425,395

 

 

 

 

December 31, 2015

 

 

 

Outstanding

Balance

 

 

Accrued Interest

 

 

Loan Loss

Allowances

 

 

Interest

Allowance

 

 

Net Taxable

Property Loans

 

Arbors at Hickory Ridge

 

$

191,264

 

 

$

39,950

 

 

$

-

 

 

$

-

 

 

$

231,214

 

Ashley Square

 

 

5,078,342

 

 

 

2,864,130

 

 

 

(3,596,342

)

 

 

(2,864,130

)

 

 

1,482,000

 

Avistar (February 2013 portfolio)

 

 

274,496

 

 

 

51,386

 

 

 

-

 

 

 

-

 

 

 

325,882

 

Avistar (June 2013 portfolio)

 

 

251,622

 

 

 

47,104

 

 

 

-

 

 

 

-

 

 

 

298,726

 

Cross Creek

 

 

7,072,087

 

 

 

2,352,851

 

 

 

(3,447,472

)

 

 

(2,352,852

)

 

 

3,624,614

 

Foundation for Affordable Housing

 

 

1,415,590

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,415,590

 

Greens Property

 

 

850,000

 

 

 

343,600

 

 

 

-

 

 

 

-

 

 

 

1,193,600

 

Lake Forest

 

 

4,623,704

 

 

 

3,080,446

 

 

 

(55,000

)

 

 

(3,059,610

)

 

 

4,589,540

 

Ohio Properties

 

 

2,390,448

 

 

 

1,235,017

 

 

 

-

 

 

 

(441,795

)

 

 

3,183,670

 

Vantage at Brooks LLC

 

 

3,454,664

 

 

 

78,440

 

 

 

-

 

 

 

-

 

 

 

3,533,104

 

Vantage at Braunfels LLC

 

 

4,272,306

 

 

 

92,481

 

 

 

-

 

 

 

-

 

 

 

4,364,787

 

 

 

$

29,874,523

 

 

$

10,185,405

 

 

$

(7,098,814

)

 

$

(8,718,387

)

 

$

24,242,727