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Development Project Costs, Cash Collateral for Deposit Bond and Cash for Development Projects
6 Months Ended
Jun. 30, 2017
Other Income and Expenses [Abstract]  
Development Project Costs, Cash Collateral for Deposit Bond and Cash for Development Projects
Development Projects Costs, Cash Collateral for Deposit Bond and Cash for Development Projects

Development Projects Costs
At June 30, 2017 and December 31, 2016, total capitalized Development Projects costs incurred were approximately $339.7 million and $202.4 million, respectively. Total capitalized Development Projects costs consist of construction costs, site development, contractor insurance, general conditions, construction manager fees, and professional fees such as architectural, legal and accounting fees, and are reflected on the Condensed Consolidated Balance Sheet as capitalized Development Projects costs. Interest expense totaling $9.9 million was capitalized during the six-month period ended June 30, 2017.

During the six-month period ended June 30, 2017, total Development Projects costs incurred were approximately $145.9 million, of which $137.3 million was capitalized and $8.7 million was expensed. Development Projects costs consisted of $5.3 million of land lease costs, $1.3 million of salary and related benefits, $866,000 of bank charges, $321,000 of real estate taxes, $286,000 of insurance expenses, $176,000 of marketing expenses, $137,000 of consulting and professional service fees, and an additional $298,000 of pre-opening expenses.

During the six-month period ended June 30, 2016, total Development Projects costs incurred were approximately $100.7 million, of which $94.5 million was capitalized and $6.2 million was expensed. Development Projects costs consisted of $5.2 million of land lease costs, $208,000 of consulting and professional service fees, $273,000 of real estate taxes, $197,000 of insurance expenses, and an additional $373,000 of pre-opening expenses.

Cash Collateral for Deposit Bond
In February 2016 and June 2017, the Company deposited $15 million and $20 million, respectively, in performance bonds to guarantee the completion of the Development Projects. These funds will be returned to the Company upon confirmation that 85% of the Company's proposed Minimum Capital Investment (as defined below) has been expended.

Cash for Development Projects
At June 30, 2017, the $327.5 million of Cash for Development Projects represented the remaining funds from the Term Loan Facility and the Kien Huat Montreign Loan to be utilized for the Development Projects. At December 31, 2016, the $26.4 million of Cash for Development Projects on the Condensed Consolidated Balance Sheet represented the remaining funds from the January 2016 Rights Offering (defined below) to be utilized for the Development Projects