**POWER OF ATTORNEY**EXHIBIT 24     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments thereto, relating to the year ended December 31, 2005, required to be filed with theSecurities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 6th day ofFebruary, 2006.                                               /s/ Michael B. Yanney   Michael B. Yanney     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 2nd day ofMarch, 2006.                                               /s/ George J. Behringer   George J. Behringer     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 3rd day ofFebruary, 2006.                                               /s/ George V. Janzen   George V. Janzen     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 30th day ofJanuary, 2006.                                               /s/ George H. Krauss   George H. Krauss     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     INWITNESS WHEREOF, the undersigned has executed this Power of Attorneyon the 1st day of March,2006.                                               /s/ Gregor Medinger   Gregor Medinger     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 1st day ofFebruary, 2006.                                               /s/ Lisa Y. Roskens   Lisa Y. Roskens     
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     POWER OF ATTORNEY     The undersigned hereby appoints John H. Cassidy and/or Paul Beldin as his agent andattorney-in-fact for the purpose of executing and filing all reports on Form 10-K and anyamendments or supplements thereto, relating to the year ended December 31, 2005, required to befiled with the Securities and Exchange Commission by America First Apartment Investors, Inc.     IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney on the 30th day ofJanuary, 2006.                                               /s/ Steven W. Seline   Steven W. Seline     
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