XML 63 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Other Assets
9 Months Ended
Sep. 30, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets
Other Assets

The following is a summary of the composition of the other assets in the condensed consolidated balance sheets:
 
September 30,
2012
 
December 31,
2011
 
(In thousands)
Lease intangible assets, net
$
130,623

 
$
92,559

Leasing commissions, net
32,537

 
28,643

Prepaid expenses and other receivables
25,641

 
2,178

Straight-line rent receivable, net
20,340

 
17,266

Deposits and mortgage escrow
14,248

 
34,567

Deferred financing costs, net
9,487

 
8,663

Deferred tax asset
2,985

 
3,229

Furniture and fixtures, net
2,389

 
2,234

Total other assets
$
238,250

 
$
189,339



In connection with our development of The Gallery at Westbury Plaza in Nassau County, New York, we remediated various environmental matters that existed when we acquired the property in November 2009. The site was eligible for participation in New York State's Brownfield Cleanup Program, which provides for refundable New York State franchise tax credits for costs incurred to remediate and develop a qualified site. We applied for participation in the program and subsequently received a certificate of completion from the New York State Department of Environmental Conservation in August 2012. The certificate of completion confirmed our adherence to the cleanup requirements and ability to seek reimbursement for a portion of qualified costs incurred as part of the environmental remediation and development of the property. Accordingly, we have recognized a $20.0 million receivable for the reimbursable costs that will be paid to us subject to statutory deferrals over the next four years, which is included in prepaid expenses and other receivables on our condensed consolidated balance sheet at September 30, 2012 with a corresponding reduction to the cost of the project included in construction in progress.