CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Property, Plant, and Equipment:
Income Properties, Land, Buildings, and Improvements	$ 396,483,185	$ 358,130,350
Golf Buildings, Improvements, and Equipment	3,746,877	6,617,396
Other Furnishings and Equipment	726,380	715,042
Construction in Progress	761,696	6,005,397
Total Property, Plant, and Equipment	401,718,138	371,468,185
Less, Accumulated Depreciation and Amortization	(26,467,425)	(23,779,780)
Property, Plant, and Equipment - Net	375,250,713	347,688,405
Land and Development Costs	27,243,368	39,477,697
Intangible Lease Assets - Net	37,112,279	38,758,059
Investment in Joint Venture	6,738,537
Impact Fee and Mitigation Credits	538,926	1,125,269
Commercial Loan Investments		11,925,699
Cash and Cash Equivalents	5,320,493	6,559,409
Restricted Cash	8,477,796	6,508,131
Refundable Income Taxes	624,759	1,116,580
Other Assets	14,852,899	12,971,129
Total Assets	476,159,770	466,130,378
Liabilities:
Accounts Payable	844,745	1,880,516
Accrued and Other Liabilities	6,265,875	10,160,526
Deferred Revenue	6,954,111	2,030,459
Intangible Lease Liabilities - Net	28,415,319	29,770,441
Deferred Income Taxes - Net	50,308,213	42,293,864
Long-Term Debt	177,359,493	195,816,364
Total Liabilities	270,147,756	281,952,170
Commitments and Contingencies - See Note 18
Shareholders' Equity:
Common Stock – 25,000,000 shares authorized; $1 par value, 6,051,168 shares issued and 5,538,310 shares outstanding at September 30, 2018; 6,030,990 shares issued and 5,584,335 shares outstanding at December 31, 2017	5,994,216	5,963,850
Treasury Stock – 512,858 shares at September 30, 2018 and 446,655 shares at December 31, 2017	(26,484,765)	(22,507,760)
Additional Paid-In Capital	23,862,170	22,735,228
Retained Earnings	201,936,651	177,614,274
Accumulated Other Comprehensive Income	703,742	372,616
Total Shareholders' Equity	206,012,014	184,178,208
Total Liabilities and Shareholders’ Equity	$ 476,159,770	$ 466,130,378