OTHER ASSETS

6 Months Ended

Jun. 30, 2022

OTHER ASSETS

OTHER ASSETS

NOTE 12. OTHER ASSETS

Other assets consisted of the following as of June 30, 2022 and December 31, 2021 (in thousands):

	As of
	June 30, 2022		December 31, 2021
Income Property Tenant Receivables	$	1,557	$	885
Income Property Straight-line Rent Adjustment and COVID-19 Deferral Balance		6,077		5,180
Operating Leases - Right-of-Use Asset		114		168
Golf Rounds Surcharge		268		338
Cash Flow Hedge - Interest Rate Swap		12,140		1,543
Infrastructure Reimbursement Receivables		1,094		1,080
Prepaid Expenses, Deposits, and Other		5,187		3,526
Due from Alpine Income Property Trust, Inc.		1,256		1,653
Financing Costs, Net of Accumulated Amortization		336		524
Total Other Assets	$	28,029	$	14,897

Income Property Straight-Line Rent Adjustment. As of June 30, 2022 and December 31, 2021, the straight-line rent adjustment includes a balance of $0.1 million of deferred rent related to the COVID-19 Pandemic. Pursuant to the interpretive guidance issued by the FASB in April 2020 on lease modifications, for leases in which deferred rent agreements were reached, the Company has continued to account for the lease concessions by recognizing the normal straight-line rental income and as the deferred rents are repaid by the tenant, the straight-line receivable will be reduced.

Infrastructure Reimbursement Receivables. As of June 30, 2022 and December 31, 2021, the infrastructure reimbursement receivables were all related to the land sales within the Tomoka Town Center. The balance as of June 30, 2022 consisted of $0.8 million due from Tanger for infrastructure reimbursement to be repaid in five remaining annual installments of approximately $0.2 million each, net of a discount of $0.1 million, and $0.3 million due from Sam’s Club for infrastructure reimbursement to be repaid in three remaining annual installments of $0.1 million each, net of a discount of $0.02 million.