Unaudited Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net income	$ 784,000	$ 1,167,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	4,170,000	3,672,000
Amortization of premium/discount of marketable securities	386,000	424,000
Equity in earnings of unconsolidated joint ventures	(5,650,000)	(4,861,000)
Non-cash retirement plan expense	725,000	761,000
Deferred income taxes	755,000	989,000
Stock compensation expense	3,297,000	2,914,000
Distribution of earnings from unconsolidated joint ventures	4,500,000	0
Changes in operating assets and liabilities:
Receivables, inventories and other assets, net	(6,622,000)	(3,572,000)
Current liabilities	(932,000)	47,000
Net cash provided by operating activities	1,413,000	1,541,000
Investing Activities
Maturities and sales of marketable securities	9,010,000	23,276,000
Funds invested in marketable securities	(4,014,000)	(15,344,000)
Property and equipment expenditures	(19,760,000)	(18,968,000)
Communities Facilities District and other reimbursements	4,650,000	4,971,000
Investment in unconsolidated joint ventures	(1,900,000)	(53,000)
Distribution of equity from unconsolidated joint ventures	1,600,000	1,100,000
Other	0	(20,000)
Net cash used in investing activities	(10,414,000)	(5,038,000)
Financing Activities
Borrowings of short-term debt	19,500,000	17,540,000
Repayments of short-term debt	(8,500,000)	(15,450,000)
Repayments of long-term debt	(190,000)	(190,000)
Taxes on vested stock grants	(314,000)	(529,000)
Net cash provided by financing activities	10,496,000	1,371,000
Increase (decrease) in cash and cash equivalents	1,495,000	(2,126,000)
Cash and cash equivalents at beginning of period	1,930,000	5,638,000
Cash and cash equivalents at end of period	3,425,000	3,512,000
Supplemental cash flow information
Accrued capital expenditures included in current liabilities	1,253,000	(153,000)
Income taxes paid	$ 1,350,000	$ 2,153,000