Note 2 - Investments in and Advances To Local Partnerships: Schedule of Encumbrances and Investment Properties (Tables)

12 Months Ended

Dec. 31, 2014

Tables/Schedules

Schedule of Encumbrances and Investment Properties

(1) Schedule of Encumbrances and Investment Properties (all amounts unaudited except for those amounts relative to the Material Investee and are the gross amounts at which carried at December 31, 2014) (in thousands):

Description	Encumbrances	Land	Buildings And  Related Personal Property	Total	Accumulated Depreciation
Lincoln Grove	$ 2,047	$ 112	$ 4,109	$ 4,221	$ 2,462
Michigan Beach	19,785	1,013	10,599	11,612	4,821
Total	$ 21,832	$ 1,125	$ 14,708	$ 15,833	$ 7,283