Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2013

Variable Interest Entities [Abstract]

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

the Partnership has made taxable property loans to these consolidated VIEs of $7.1 million and $10.6 million as of December 31, 2013 and 2012, respectively.



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⁾	Gainsville, 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
VIEs - December 31, 2012
			Base		Principal		Income
		Maturity	Interest		Outstanding at		Earned in
Property Name	Location	Date	Rate		December 31, 2012		2012
Bent Tree Apartments ⁽¹⁾	Columbia, SC	12/15/2030	6.25	%	$	7,614,000	$	477,938
Fairmont Oaks Apartments ⁽¹⁾	Gainesville, FL	4/1/2033	6.30	%	$	7,439,000	$	471,067
Lake Forest Apartments ⁽¹⁾	Daytona Beach, FL	12/1/2031	6.25	%	$	9,105,000	$	571,813
Total Mortgage Revenue Bonds					$	24,158,000	$	1,520,818
(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, 2013 and 2012; :



	December 31, 2013
	Outstanding Balance		Accrued Interest		Loan Loss Reserves			Net Taxable Loans
Arbors at Hickory Ridge	$	191,264	$	12,979	$	—		$	204,243
Ashley Square	5,078,342		2,053,415		(5,649,757		)	1,482,000
Cross Creek	6,821,087		1,825,389		(5,197,861		)	3,448,615
Greens Property	876,000		130,563		(921		)	1,005,642
Foundation for Affordable Housing	1,603,083		13,989		—			1,617,072
Lake Forest	4,618,704		2,148,881		(2,183,046		)	4,584,539
Ohio Properties	2,361,447		585,377		(186,706		)	2,760,118
	$	21,549,927	$	6,770,593	$	(13,218,291	)	$	15,102,229

	December 31, 2012
	Outstanding Balance		Accrued Interest		Loan Loss Reserves			Net Taxable Loans
Arbors at Hickory Ridge	$	191,264	$	697	$	—		$	191,961
Ashley Square	4,894,342		1,681,322		(5,277,664		)	1,298,000
Cross Creek	6,588,087		1,578,288		(4,782,760		)	3,383,615
Iona Lakes	7,741,118		2,856,290		(6,857,912		)	3,739,496
Woodland Park	914,116		302,450		(1,216,566		)	—
	$	20,328,927	$	6,419,047	$	(18,134,902	)	$	8,613,072

Variable Interest Entity, Classification of Carrying Amount, Assets [Table Text Block]

The following table presents information regarding the carrying value and classification of the assets held by the Partnership as of December 31, 2013 and 2012, which constitute a variable interest in Ashley Square and Cross Creek.



December 31, 2013
	Balance Sheet	Carrying		Maximum Exposure
	Classification	Value		to Loss
Ashley Square Apartments
Mortgage Revenue Bond	Bond Investment	$	5,212,000	$	5,212,000
Property Loan	Other Asset	1,482,000		7,131,757
		$	6,694,000	$	12,244,123

Cross Creek Apartments
Mortgage Revenue Bond	Bond Investment	$	7,522,563	$	6,042,297
Property Loans	Other Asset	3,448,615		3,448,615
		$	10,971,178	$	9,490,912



December 31, 2012
	Balance Sheet	Carrying		Maximum Exposure
	Classification	Value		to Loss
Ashley Square Apartments
Mortgage Revenue Bond	Bond Investment	5,506,981		5,260,000
Property Loan	Other Asset	1,298,000		6,575,664
		$	6,804,981	$	11,835,664

Cross Creek Apartments
Mortgage Revenue Bond	Bond Investment	7,999,335		6,004,424
Property Loans	Other Asset	3,383,615		3,383,615
		$	11,382,950	$	9,388,039

Schedule of Condensed Income Statement [Table Text Block]

Consolidating Statements of Operations for the years ended December 31, 2013, 2012, and 2011:



	Partnership For the Year Ended December 31, 2013		Consolidated VIEs For the Year Ended December 31, 2013		Consolidation -Elimination For the Year Ended December 31, 2013			Total For the Year Ended December 31, 2013
Revenues:
Property revenues	$	11,358,718	$	4,752,022	$	—		$	16,110,740
Mortgage revenue bond investment income	24,109,397		—		(1,457,775		)	22,651,622
Contingent interest income	6,497,160		—		—			6,497,160
Other interest income	1,772,338		—		—			1,772,338
Other income	250,000		9,186,828		(9,186,828		)	250,000
Total revenues	43,987,613		13,938,850		(10,644,603		)	47,281,860
Expenses:
Real estate operating (exclusive of items shown below)	6,522,091		3,052,731		—			9,574,822
Realized loss on taxable property loans	4,557,741		—		—			4,557,741
Provision for loan loss	168,000		—		—			168,000
Provision for loss on receivables	241,698		—		—			241,698
Depreciation and amortization	5,374,802		1,399,548		(41,770		)	6,732,580
Interest	7,235,336		3,221,000		(3,221,000		)	7,235,336
General and administrative	4,237,245		—		—			4,237,245
Total expenses	28,336,913		7,673,279		(3,262,770		)	32,747,422
Income (loss) from continuing operations	15,650,700		6,265,571		(7,381,833		)	14,534,438
Income from discontinued operations (including gain on sale of MF Properties of $3,177,183 in 2013)	3,442,404		—		—			3,442,404
Net income (loss)	19,093,104		6,265,571		(7,381,833		)	17,976,842
Net income attributable to noncontrolling interest	261,923		—		—			261,923
Net income (loss) - America First Multifamily Investors, L. P.	$	18,831,181	$	6,265,571	$	(7,381,833	)	$	17,714,919



	Partnership For the Year Ended December 31, 2012		Consolidated VIEs For the Year Ended December 31, 2012			Consolidation -Elimination For the Year Ended December 31, 2012			Total For the Year Ended December 31, 2012
Revenues:
Property revenues	$	7,846,812	$	4,807,718		$	—		$	12,654,530
Investment income	12,599,284		—			(1,520,817		)	11,078,467
Gain on sale and retirement of bonds	680,444		—			—			680,444
Other interest income	150,882		—			—			150,882
Other income	557,300		(1,972		)	—			555,328
Total revenues	21,834,722		4,805,746			(1,520,817		)	25,119,651
Expenses:
Real estate operating (exclusive of items shown below)	4,604,870		3,273,061			—			7,877,931
Provision for loss on receivables	452,700		—			—			452,700
Depreciation and amortization	3,447,316		1,578,275			(43,561		)	4,982,030
Interest	5,530,995		3,240,306			(3,240,306		)	5,530,995
General and administrative	3,512,233		—			—			3,512,233
Total expenses	17,548,114		8,091,642			(3,283,867		)	22,355,889
Income (loss) from continuing operations	4,286,608		(3,285,896		)	1,763,050			2,763,762
Income from discontinued operations (including gain on sale of MF Property of $1,406,608 in 2012)	2,232,276		—			—			2,232,276
Net income (loss)	6,518,884		(3,285,896		)	1,763,050			4,996,038
Net income attributable to noncontrolling interest	549,194		—			—			549,194
Net income (loss) - America First Multifamily Investors, L.P.	$	5,969,690	$	(3,285,896	)	$	1,763,050		$	4,446,844



	Partnership For the Year Ended December 31, 2011			Consolidated VIEs For the Year Ended December 31, 2011		Consolidation -Elimination For the Year Ended December 31, 2011			Total For the Year Ended December 31, 2011
Revenues:
Property revenues	$	5,066,443		$	5,909,807	$	—		$	10,976,250
Investment income	11,205,247			—		(2,017,956		)	9,187,291
Contingent interest income	309,990			—		—			309,990
Gain on bond retirement	445,257			—		—			445,257
Other interest income	485,679			—		—			485,679
Other income	189,340			4,133,477		(4,028,489		)	294,328
Total Revenues	17,701,956			10,043,284		(6,046,445		)	21,698,795
Expenses:
Real estate operating (exclusive of items shown below)	3,154,290			3,604,417		—			6,758,707
Provision for loan loss	4,242,571			—		—			4,242,571
Provision for loss on receivables	952,700			—		—			952,700
Depreciation and amortization	2,281,541			1,718,899		(36,938		)	3,963,502
Interest	5,441,700			4,037,725		(4,037,725		)	5,441,700
General and administrative	2,764,970			—		—			2,764,970
Total Expenses	18,837,772			9,361,041		(4,074,663		)	24,124,150
(Loss) income from continuing operations	(1,135,816		)	682,243		(1,971,782		)	(2,425,355		)
Income from discontinued operations	752,192			—		—			752,192
Net (loss) income	(383,624		)	682,243		(1,971,782		)	(1,673,163		)
Net income attributable to noncontrolling interest	570,759			—		—			570,759
Net (loss) income - America First Multifamily Investors, L. P.	$	(954,383	)	$	682,243	$	(1,971,782	)	$	(2,243,922	)

Schedule of Condensed Balance Sheet [Table Text Block]

Consolidating Balance Sheets as of December 31, 2013 and 2012:



	Partnership as of December 31, 2013			Consolidated VIEs as of December 31, 2013			Consolidation -Elimination as of December 31, 2013			Total as of December 31, 2013
Assets
Cash and cash equivalents	$	11,292,039		$	25,976		$	—		$	11,318,015
Restricted cash	6,344,666			500,877			—			6,845,543
Interest receivable	14,357,065			—			(4,820,550		)	9,536,515
Mortgage revenue bonds held in trust	230,885,864			—			(14,514,063		)	216,371,801
Mortgage revenue bonds	68,946,370			—			—			68,946,370
Public housing capital fund trusts	62,056,379			—			—			62,056,379
Mortgage-backed securities	37,845,661			—			—			37,845,661
Real estate assets:
Land and land improvements	9,245,592			1,836,400			—			11,081,992
Buildings and improvements	90,253,256			20,942,439			—			111,195,695
Real estate assets before accumulated depreciation	99,498,848			22,778,839			—			122,277,687
Accumulated depreciation	(9,386,811		)	(9,741,942		)	—			(19,128,753		)
Net real estate assets	90,112,037			13,036,897			—			103,148,934
Other assets	24,413,077			456,087			(6,705,350		)	18,163,814
Total Assets	$	546,253,158		$	14,019,837		$	(26,039,963	)	$	534,233,032

Liabilities
Accounts payable, accrued expenses and other liabilities	$	4,963,653		$	20,634,613		$	(20,147,572	)	$	5,450,694
Distribution payable	6,446,076			—			—			6,446,076
Debt financing	257,274,000			—			—			257,274,000
Mortgage payable	57,087,320			14,897,000			(14,897,000		)	57,087,320
Bond purchase commitment at fair value	4,852,177			—			—			4,852,177
Total Liabilities	330,623,226			35,531,613			(35,044,572		)	331,110,267
Partners' Capital
General Partner	16,671			—			—			16,671
Beneficial Unit Certificate holders	215,624,583			—			7,948,729			223,573,312
Unallocated loss of Consolidated VIEs	—			(21,511,776		)	1,055,880			(20,455,896		)
Total Partners' Capital	215,641,254			(21,511,776		)	9,004,609			203,134,087
Noncontrolling interest	(11,322		)	—			—			(11,322		)
Total Capital	215,629,932			(21,511,776		)	9,004,609			203,122,765
Total Liabilities and Partners' Capital	$	546,253,158		$	14,019,837		$	(26,039,963	)	$	534,233,032



	Partnership as of December 31, 2012			Consolidated VIEs as of December 31, 2012			Consolidation -Elimination as of December 31, 2012			Total as of December 31, 2012
Assets
Cash and cash equivalents	$	30,123,447		$	49,326		$	—		$	30,172,773
Restricted cash	4,538,071			933,451			—			5,471,522
Interest receivable	14,131,063			—			(5,657,703		)	8,473,360
Mortgage revenue bonds held in trust	124,149,600			—			(24,615,518		)	99,534,082
Mortgage revenue bonds	45,703,294			—			—			45,703,294
Public housing capital fund trusts	65,389,298			—			—			65,389,298
Mortgage-backed securities	32,121,412			—			—			32,121,412
Real estate assets:
Land and land improvements	6,798,407			4,404,469			—			11,202,876
Buildings and improvements	55,776,753			37,838,726			—			93,615,479
Real estate assets before accumulated depreciation	62,575,160			42,243,195			—			104,818,355
Accumulated depreciation	(5,458,961		)	(13,871,102		)	—			(19,330,063		)
Net real estate assets	57,116,199			28,372,093			—			85,488,292
Other assets	22,923,356			852,321			(15,559,382		)	8,216,295
Assets of discontinued operations	32,580,427			—			—			32,580,427
Total Assets	$	428,776,167		$	30,207,191		$	(45,832,603	)	$	413,150,755

Liabilities
Accounts payable, accrued expenses and other liabilities	2,330,852			28,529,405			(25,846,310		)	5,013,947
Distribution payable	5,566,908			—			—			5,566,908
Debt financing	177,948,000			—			—			177,948,000
Mortgage payable	39,119,507			24,158,000			(24,158,000		)	39,119,507
Liabilities of discontinued operations	1,531,462			—			—			1,531,462
Total Liabilities	226,496,729			52,687,405			(50,004,310		)	229,179,824
Partners' Capital
General Partner	(430,087		)	—			—			(430,087		)
Beneficial Unit Certificate holders	200,655,786			—			6,727,301			207,383,087
Unallocated deficit of Consolidated VIEs	—			(22,480,214		)	(2,555,594		)	(25,035,808		)
Total Partners' Capital	200,225,699			(22,480,214		)	4,171,707			181,917,192
Noncontrolling interest	2,053,739			—			—			2,053,739
Total Capital	202,279,438			(22,480,214		)	4,171,707			183,970,931
Total Liabilities and Partners' Capital	$	428,776,167		$	30,207,191		$	(45,832,603	)	$	413,150,755

A condensed balance sheet for each at the date of acquisitions is included below.



	Woodland Park 6/1/2013 (Date of Acquisition)
Other current assets	$	201,321
In-place lease assets	403,216
Real estate assets	15,258,784
Total Assets	$	15,863,321
Accounts payable, accrued expenses and other	192,345
Net assets	15,670,976
Total liabilities and net assets	$	15,863,321



	Maples on 97th 8/29/2012 (Date of acquisition)
Other current assets	$	44,534
In-place lease assets	428,865
Real estate assets	5,071,135
Total Assets	$	5,544,534
Accounts payable, accrued expenses and other	69,120
Net assets	5,475,414
Total liabilities and net assets	$	5,544,534