Unaudited Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating Activities
Net income	$ 467,000	$ 1,978,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	2,810,000	2,431,000
Amortization of premium/discount of marketable securities	255,000	328,000
Equity in earnings of unconsolidated joint ventures	(3,297,000)	(2,806,000)
Non-cash retirement plan expense	483,000	507,000
Deferred income taxes	0	1,000
Stock compensation expense	2,131,000	1,900,000
Changes in operating assets and liabilities:
Receivables, inventories and other assets, net	(4,939,000)	(2,830,000)
Current liabilities	(1,607,000)	124,000
Net cash (used in) provided by operating activities	(3,697,000)	1,633,000
Investing Activities
Maturities and sales of marketable securities	3,291,000	14,665,000
Funds invested in marketable securities	(3,151,000)	(12,200,000)
Property and equipment expenditures	(13,266,000)	(12,113,000)
Communities Facilities District and other reimbursements	4,650,000	4,971,000
Investment in unconsolidated joint ventures	(55,000)	0
Distribution of equity from unconsolidated joint ventures	600,000	1,100,000
Other	0	38,000
Net cash used in investing activities	(7,931,000)	(3,615,000)
Financing Activities
Borrowings of short-term debt	11,000,000	10,560,000
Repayments of short-term debt	0	(13,450,000)
Repayments of long-term debt	(126,000)	(126,000)
Taxes on vested stock grants	(314,000)	(529,000)
Net cash provided by (used in) financing activities	10,560,000	(3,545,000)
Decrease in cash and cash equivalents	(1,068,000)	(5,527,000)
Cash and cash equivalents at beginning of year	1,930,000	5,638,000
Cash and cash equivalents at end of period	862,000	111,000
Supplemental cash flow information
Accrued capital expenditures included in current liabilities	584,000	1,383,000
Income taxes paid	$ 1,350,000	$ 2,117,000