LAND AND LAND DEVELOPMENT COSTS

9 Months Ended

Jul. 31, 2013

Land And Land Development Costs

LAND AND LAND DEVELOPMENT COSTS

6.  Land and Land Development Costs

   Land and improvements in progress held for development consist of the following:

	07/31/2013	10/31/2012
Land unimproved designated for development	$9,635,834	$10,593,519
Residential development	5,084,771	5,084,262
Infrastructure development	1,189,684	4,674,285
	$15,910,289	$20,352,066

   The decrease in land unimproved designated for development was the result of the reclassification of 1,577 acres of raw land on River Road, Buck Township, Pennsylvania to assets held for sale which was sold in July 2013. The decrease in infrastructure development was related to an impairment expense taken against the remaining 126 units of the Boulder Lake Village condominium project.