Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

Commitments And Contingencies [Abstract]

Long-term Purchase Commitment

The following table summarizes the Partnership’s bond purchase commitments at December 31, 2016 and 2015:

Bond Purchase Commitments	Commitment Date	Maximum Committed Amounts for 2017		Maximum Committed Amounts for 2018		Rate			Closing Date (1)	Fair Value at December 31, 2016		Fair Value at December 31, 2015
15 West Apartments	July 2014	$	-	$	-		6.25	%	Q4 2016	$	-	$	945,009
Villas at Plano Gateway Apartments	December 2014		20,000,000		-		6.00	%	Q2 2017		838,200		1,469,213
Village at Rivers Edge	May 2015		11,000,000		-		6.00	%	Q2 2017		467,720		636,560
Palo Alto	July 2015		19,540,000		-		5.80	%	Q3 2017		627,429		1,439,600
Village at Avalon	November 2015		-		16,400,000		5.80	%	Q2 2018		466,100		1,143,978
Total		$	50,540,000	$	16,400,000					$	2,399,449	$	5,634,360

⁽¹⁾ The closing date is actual or estimated.