9. LOANS, NOTES AND OTHER RECEIVABLES

12 Months Ended

Dec. 31, 2011

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

9. LOANS, NOTES AND OTHER RECEIVABLES

	As of December 31,
Description	2011		2010
Promissory note and accrued interest due from individual (a)	$	205,000	$	205,000
Rent due from Bayshore tenant, net of bad debt allowance (b)		259,000		223,000
Rent due from Grove Isle tenant (c)		—		216,000
Due from Grove Isle Condominium Association (d)		108,000		75,000
Other		112,000		23,000
Total loans, notes and other receivables	$	684,000	$	742,000

(a)	In December 2007 the Company loaned $400,000 to a local real estate developer who is well known to the Company and which loan is secured by numerous real estate interests. In 2010 $197,000 of principal payments were received. The loan calls for interest only payments at an annual rate of 9% with all principal due on June 30, 2012 (as extended). All interest payments due have been received.
(b)	Rent due from Bayshore tenants are primarily from one marina tenant. As of December 31, 2011 and 2010 an allowance for bad debt of $150,000 has been recorded for this tenant. This tenant’s lease was amended in December 2010 and the number of slips rented to this tenant was significantly reduced. The tenant is current on all payments due under amended lease.
(c)	At December 31, 2010, the lessee had amounts due to the Company of approximately $216,000 representing two months outstanding rent and other related charges. In January and February of 2011 the tenant made all payments due under the lease and no amounts presently remain past due.
(d)	The Company is owed amounts from the Grove Isle Condominium Association for repairs and maintenance as provided by agreement.