A low income housing tax credit project, owned by an investment partnership including a 99.99% interest in for-profit entities is not used exclusively for charitable purposes and is not entitled to real estate tax exemption, the Court of Appeals of Kansas has held. The nonprofit managing member of the investment entity, which owned a .01% interest, argued that the use furthered its charitable purpose. But the Court said that the direct financial interest of the investors is “anathema to exemption.” ( Application of CLASS Homes, LLC, Ct. of App. KS, No. 101,658, 6/25/10 .)