CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Property, Plant, and Equipment:
Income Properties, Land, Buildings, and Improvements	$ 396,259,302	$ 358,130,350
Golf Buildings, Improvements, and Equipment	6,640,581	6,617,396
Other Furnishings and Equipment	726,380	715,042
Construction in Progress	581,611	6,005,397
Total Property, Plant, and Equipment	404,207,874	371,468,185
Less, Accumulated Depreciation and Amortization	(25,840,495)	(23,779,780)
Property, Plant, and Equipment - Net	378,367,379	347,688,405
Land and Development Costs	31,371,995	39,477,697
Intangible Lease Assets - Net	38,606,046	38,758,059
Investment in Joint Venture	6,701,017
Impact Fee and Mitigation Credits	725,236	1,125,269
Commercial Loan Investments	2,994,916	11,925,699
Cash and Cash Equivalents	4,312,324	6,559,409
Restricted Cash	2,419,686	6,508,131
Refundable Income Taxes	1,075,662	1,116,580
Other Assets	13,975,385	12,971,129
Total Assets	480,549,646	466,130,378
Liabilities:
Accounts Payable	1,745,714	1,880,516
Accrued and Other Liabilities	7,838,466	10,160,526
Deferred Revenue	6,868,665	2,030,459
Intangible Lease Liabilities - Net	29,139,535	29,770,441
Deferred Income Taxes - Net	50,603,916	42,293,864
Long-Term Debt	177,133,608	195,816,364
Total Liabilities	273,329,904	281,952,170
Commitments and Contingencies - See Note 18
Shareholders' Equity:
Common Stock – 25,000,000 shares authorized; $1 par value, 6,042,966 shares issued and 5,559,507 shares outstanding at June 30, 2018; 6,030,990 shares issued and 5,584,335 shares outstanding at December 31, 2017	5,984,747	5,963,850
Treasury Stock – 483,459 shares at June 30, 2018 and 446,655 shares at December 31, 2017	(24,700,205)	(22,507,760)
Additional Paid-In Capital	23,228,788	22,735,228
Retained Earnings	202,024,986	177,614,274
Accumulated Other Comprehensive Income	681,426	372,616
Total Shareholders' Equity	207,219,742	184,178,208
Total Liabilities and Shareholders’ Equity	$ 480,549,646	$ 466,130,378