2.4.0.8000080 - Disclosure - Note 3 - Mortgage Note Receivabletruefalsefalse1false falsefalseD130101_130630http://www.sec.gov/CIK0000859921duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Notes2false 2us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Note 3 Mortgage Note Receivable   On May 30, 2006, the Partnership purchased the second mortgage for a Local Partnership, Michigan Beach, from the second mortgage holder, PAMI Midatlantic, LLC (PAMI) for a purchase price of $4,320,000. The second mortgage had a principal balance of approximately $3,596,000 and accrued interest outstanding at the time of the purchase. PAMI had filed an action for foreclosure and the appointment of a receivor for the alleged failure to make surplus cash payments and provide required financial reporting. As a result of the purchase, the Partnership was substituted in place of PAMI in the foreclosure action and then the Partnership dismissed the foreclosure action with prejudice on June 9, 2006. The Partnership is the sole limited partner in Michigan Beach.   The second mortgage accrues interest at a fixed rate of 6.11%.  Semiannual payments from 50% of surplus cash are required and the note matures in July, 2031.  There is an option to the noteholder to accelerate maturity of the second mortgage after October, 2008. There have been no payments made on the loan. The Partnership recognized approximately $55,000 and $98,000  in equity in loss from Michigan Beach during the six months ended June 30, 2013 and 2012, respectively, and reduced the carrying value of the mortgage note receivable. With respect to the second mortgage from Michigan Beach, the Partnership has fully reserved any accrued interest.   The following is a summary of the mortgage note receivable activity for the six months ended June 30, 2013 (in thousands):   <table border="0" cellspacing="0" cellpadding="0" width="660" style='width:495.0pt;margin-left:5.4pt;border-collapse:collapse'> <tr style='height:.5in'> <td width="492" style='width:369.0pt;padding:0in 5.4pt 0in 5.4pt;height:.5in'>   </td> <td width="168" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:.5in'> Six Months Ended June 30, 2013 </td> </tr> <tr style='height:.25in'> <td width="492" style='width:369.0pt;padding:0in 5.4pt 0in 5.4pt;height:.25in'> Mortgage note receivable balance, beginning of period </td> <td width="168" valign="bottom" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:.25in'> $ 3,533  </td> </tr> <tr style='height:13.7pt'> <td width="492" style='width:369.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.7pt'> Equity in losses of Local Partnership </td> <td width="168" valign="bottom" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:13.7pt'> (55)  </td> </tr> <tr style='height:13.7pt'> <td width="492" style='width:369.0pt;padding:0in 5.4pt 0in 5.4pt;height:13.7pt'> Mortgage note receivable balance, end of period </td> <td width="168" valign="bottom" style='width:1.75in;padding:0in 5.4pt 0in 5.4pt;height:13.7pt'> $ 3,478  </td> </tr> </table>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for investments in certain debt and equity securities.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 false0Note 3 - Mortgage Note ReceivablefalseNote 3 - Mortgage Note ReceivableUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.napico.com/20130630/role/idr_DisclosureNote3MortgageNoteReceivable12