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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Cash Flow from Operating Activities:        
Net Income     $ 25,371,379 $ 17,392,200
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:        
Depreciation and Amortization $ 3,857,240 $ 3,161,169 11,612,557 9,139,434
Amortization of Intangible Liabilities to Income Property Revenue (600,000) (552,000) (1,779,031) (1,632,881)
Loan Cost Amortization 103,000 125,000 389,656 350,292
Amortization of Discount on Convertible Debt 321,000 301,000 947,419 888,851
Gain on Disposition of Property, Plant, and Equipment and Intangible Assets   266 (22,035,666) 266
Impairment Charges 1,119,362   1,119,362 0
Accretion of Commercial Loan Origination Fees     (34,768) (10,144)
Deferred Income Taxes     8,345,475 12,090,118
Non-Cash Compensation     1,283,434 1,142,090
Decrease (Increase) in Assets:        
Refundable Income Taxes     491,821 (566,721)
Land and Development Costs     3,090,301 11,204,943
Impact Fees and Mitigation Credits     586,343 1,057,469
Other Assets     (2,139,265) 895,466
Increase (Decrease) in Liabilities:        
Accounts Payable     (1,035,771) (210,292)
Accrued and Other Liabilities     (4,194,651) (1,984,999)
Deferred Revenue     600,929 (678,641)
Net Cash Provided By Operating Activities     22,619,524 49,077,451
Cash Flow from Investing Activities:        
Acquisition of Property, Plant, and Equipment and Intangible Lease Assets and Liabilities     (29,399,109) (49,689,555)
Acquisition of Commercial Loan Investments       (2,940,000)
Acquisition of Land     (3,794,058)  
Cash Contribution for Interest in Joint Venture     (2,087,521)  
Proceeds from Disposition of Property, Plant, and Equipment     26,377,525  
Principal Payments Received on Commercial Loan Investments     11,960,467  
Net Cash Provided By (Used In) Investing Activities     3,057,304 (52,629,555)
Cash Flow from Financing Activities:        
Proceeds from Long-Term Debt     36,300,000 24,500,000
Payments on Long-Term Debt     (55,830,473) (17,800,000)
Cash Paid for Loan Fees     (263,473) (532,814)
Cash Proceeds from Exercise of Stock Options and Stock Issuance     372,248 841,775
Cash Used to Purchase Common Stock     (3,977,005) (7,136,494)
Cash Paid for Vesting of Restricted Stock     (498,374) (261,621)
Dividends Paid     (1,049,002) (722,033)
Net Cash Used In Financing Activities     (24,946,079) (1,111,187)
Net Decrease (Increase) in Cash     730,749 (4,663,291)
Cash, Beginning of Year     13,067,540 17,635,031
Cash, End of Period 13,798,289 12,971,740 13,798,289 12,971,740
Reconciliation of Cash to the Consolidated Balance Sheets:        
Cash and Cash Equivalents 5,320,493 5,944,544 5,320,493 5,944,544
Restricted Cash 8,477,796 7,027,196 8,477,796 7,027,196
Total Cash as of September 30, 2018 and 2017, respectively $ 13,798,289 $ 12,971,740 $ 13,067,540 $ 17,635,031