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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Cash Flow from Operating Activities:        
Net Income     $ 25,075,207 $ 16,425,300
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:        
Depreciation and Amortization $ 3,854,938 $ 3,215,690 7,755,317 5,978,265
Amortization of Intangible Liabilities to Income Property Revenue (600,000) (550,000) (1,179,345) (1,081,262)
Loan Cost Amortization 137,000 112,000 286,639 224,987
Amortization of Discount on Convertible Debt 316,000 296,000 626,562 587,828
Gain on Disposition of Property, Plant, and Equipment and Intangible Assets (18,384,808)   (22,035,666)  
Impairment Charges     0 0
Accretion of Commercial Loan Origination Fees     (29,684)  
Deferred Income Taxes     8,618,862 11,042,346
Non-Cash Compensation     897,325 743,164
Decrease (Increase) in Assets:        
Refundable Income Taxes     40,918 (255,568)
Land and Development Costs     (2,690,531) 11,741,518
Impact Fees and Mitigation Credits     400,033 807,000
Other Assets     (1,261,751) 1,144,668
Increase (Decrease) in Liabilities:        
Accounts Payable     (134,802) (159,045)
Accrued and Other Liabilities     (2,622,060) (1,632,249)
Deferred Revenue     515,483 (271,800)
Net Cash Provided By Operating Activities     14,262,507 45,295,152
Cash Flow from Investing Activities:        
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities     (28,908,410) (46,621,871)
Acquisition of Land     (2,141,853)  
Cash Contribution for Interest in Joint Venture     (2,050,001)  
Proceeds from Disposition of Property, Plant, and Equipment     26,377,525  
Principal Payments Received on Commercial Loan Investments     8,960,467  
Net Cash Provided By (Used In) Investing Activities     2,237,728 (46,621,871)
Cash Flow from Financing Activities:        
Proceeds from Long-Term Debt     36,300,000 19,500,000
Payments on Long-Term Debt     (55,667,484) (17,800,000)
Cash Paid for Loan Fees     (228,473) (48,095)
Cash Proceeds from Exercise of Stock Options and Stock Issuance     115,506 141,184
Cash Used to Purchase Common Stock     (2,192,445) (5,512,960)
Cash Paid for Vesting of Restricted Stock     (498,374) (261,621)
Dividends Paid     (664,495) (446,070)
Net Cash Used In Financing Activities     (22,835,765) (4,427,562)
Net Decrease in Cash     (6,335,530) (5,754,281)
Cash, Beginning of Year     13,067,540 17,635,031
Cash, End of Period 6,732,010 11,880,750 6,732,010 11,880,750
Reconciliation of Cash to the Consolidated Balance Sheets:        
Cash and Cash Equivalents 4,312,324 7,153,369 4,312,324 7,153,369
Restricted Cash 2,419,686 4,727,381 2,419,686 4,727,381
Total Cash as of June 30, 2018 and 2017, respectively $ 6,732,010 $ 11,880,750 $ 13,067,540 $ 17,635,031