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  <TITLE> America First Apartment Investors, Inc. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	August 9, 2006
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  	America First Apartment Investors, Inc.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	000-49986
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  	470858301
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	Suite 100, 1004 Farnam Street, Omaha, Nebraska
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  	68102
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	(402) 557-6360
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
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  On August 9, 2006, the Board of Directors of America First Apartment Investors, Inc. (the "Company"), acting upon the recommendation of its Nominating/Corporate Governance Committee, voted to expand the Board of Directors to nine directors and to appoint Father John Schlegel, the President of Creighton University, and Mr. John H. Cassidy, the President and Chief Executive Officer of the Company, as additional directors.  Father Schlegel has been appointed as a Class I director for a term ending in 2009 and Mr. Cassidy has been appointed as a Class II director for a term ending in 2007. <br><br>Father Schlegel, 63, has been president of Creighton University in Omaha, Nebraska, since August 2000.  Prior to joining Creighton, he served nine years as president of the University of San Francisco.  Father Schlegel is a graduate of St. Louis University with a B.A. in philosophy and classics and a M.A. in political science; he also earned a theology degree from the University of London and a doctorate from Oxford University in international relations.  The Board has determined that Father Schlegel is an independent director, as that term is defined under current Nasdaq listing standards, SEC rules and regulations and the Sarbanes-Oxley Act of 2002.    <br><br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	America First Apartment Investors, Inc.
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  <I>
  	August 10, 2006
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  	By:
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  <I>
  	/s/ John H. Cassidy
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  	&nbsp;
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  	Name: John H. Cassidy
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  	Title: President and Chief Executive Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_14350.htm", "description": "LIVE FILING", "secsgml_size_bytes": 9621}]
metadata_filer: {"company-data": {"conformed-name": "AMERICA FIRST APARTMENT INVESTORS INC", "cik": "0001175167", "assigned-sic": "6798", "irs-number": "470858301", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49986", "film-number": "061021502"}, "business-address": {"street1": "SUITE 100", "street2": "1004 FARNAM STREET", "city": "OMAHA", "state": "NE", "zip": "68102", "phone": "4024441630"}, "mail-address": {"street1": "SUITE 100", "street2": "1004 FARNAM STREET", "city": "OMAHA", "state": "NE", "zip": "68102"}}
text: America First Apartment Investors, Inc. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  August 9, 2006
  America First Apartment Investors, Inc.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  000-49986
  470858301
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  Suite 100, 1004 Farnam Street, Omaha, Nebraska
  68102
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (402) 557-6360
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
  On August 9, 2006, the Board of Directors of America First Apartment Investors, Inc. (the "Company"), acting upon the recommendation of its Nominating/Corporate Governance Committee, voted to expand the Board of Directors to nine directors and to appoint Father John Schlegel, the President of Creighton University, and Mr. John H. Cassidy, the President and Chief Executive Officer of the Company, as additional directors.  Father Schlegel has been appointed as a Class I director for a term ending in 2009 and Mr. Cassidy has been appointed as a Class II director for a term ending in 2007.
  Father Schlegel, 63, has been president of Creighton University in Omaha, Nebraska, since August 2000.  Prior to joining Creighton, he served nine years as president of the University of San Francisco.  Father Schlegel is a graduate of St. Louis University with a B.A. in philosophy and classics and a M.A. in political science; he also earned a theology degree from the University of London and a doctorate from Oxford University in international relations.  The Board has determined that Father Schlegel is an independent director, as that term is defined under current Nasdaq listing standards, SEC rules and regulations and the Sarbanes-Oxley Act of 2002.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  America First Apartment Investors, Inc.
  August 10, 2006
  By:
  /s/ John H. Cassidy
  Name: John H. Cassidy
  Title: President and Chief Executive Officer