CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Property, Plant, and Equipment:
Income Properties, Land, Buildings, and Improvements	$ 316,424,434	$ 274,334,139
Golf Buildings, Improvements, and Equipment	6,102,694	3,528,194
Other Furnishings and Equipment	1,083,939	1,032,911
Construction in Progress	4,441,858	5,267,676
Total Property, Plant, and Equipment	328,052,925	284,162,920
Less, Accumulated Depreciation and Amortization	(20,252,879)	(16,552,077)
Property, Plant, and Equipment—Net	307,800,046	267,610,843
Land and Development Costs	40,213,760	51,955,278
Intangible Lease Assets—Net	37,146,580	34,725,822
Impact fee and mitigation credits	1,515,906	2,322,906
Commercial Loan Investments	23,960,467	23,960,467
Cash and Cash Equivalents	7,153,369	7,779,562
Restricted Cash	4,727,381	9,855,469
Refundable Income Taxes	1,199,559	943,991
Other Assets	8,324,420	9,469,088
Total Assets	432,041,488	408,623,426
Liabilities:
Accounts Payable	1,359,060	1,518,105
Accrued and Other Liabilities	7,735,648	8,667,897
Deferred Revenue	1,719,866	1,991,666
Intangible Lease Liabilities - Net	30,703,143	30,518,051
Accrued Stock-Based Compensation	45,046	42,092
Deferred Income Taxes—Net	62,416,899	51,364,572
Long-Term Debt	168,709,921	166,245,201
Total Liabilities	272,689,583	260,347,584
Commitments and Contingencies - See Note 18
Shareholders’ Equity:
Common Stock – 25,000,000 shares authorized; $1 par value, 6,038,358 shares issued and 5,622,934 shares outstanding at June 30, 2017; 6,021,564 shares issued and 5,710,238 shares outstanding at December 31, 2016	5,931,468	5,914,560
Treasury Stock – 415,424 shares at June 30, 2017; 311,326 shares at December 31, 2016	(20,811,266)	(15,298,306)
Additional Paid-In Capital	21,114,253	20,511,388
Retained Earnings	152,871,541	136,892,311
Accumulated Other Comprehensive Income	245,909	255,889
Total Shareholders' Equity	159,351,905	148,275,842
Total Liabilities and Shareholders’ Equity	$ 432,041,488	$ 408,623,426