ACCRUED AND OTHER LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2017

ACCRUED AND OTHER LIABILITIES

Schedule of components of accrued and other liabilities

Accrued and other liabilities consisted of the following: 

	As of
	March 31, 2017		December 31, 2016
Golf Course Lease	$	—	$	2,226,527
Accrued Property Taxes		640,003		28,973
Golf $1 Round Surcharge		700,000		—
Reserve for Tenant Improvements		17,901		398,621
Accrued Construction Costs		717,874		856,947
Accrued Interest		327,751		1,220,990
Environmental Reserve and Restoration Cost Accrual		1,367,256		1,505,757
Other		1,709,467		2,430,082
Total Accrued and Other Liabilities	$	5,480,252	$	8,667,897