LAND AND LAND DEVELOPMENT COSTS

12 Months Ended

Oct. 31, 2013

Land And Land Development Costs

LAND AND LAND DEVELOPMENT COSTS

4.  LAND AND LAND DEVELOPMENT COSTS:

Land and land development costs as of October 31, 2013 and 2012 consist of the following:

	10/31/2013	10/31/2012
Land unimproved designated for development	$9,635,834	$10,593,519
Residential development	1,388,219	5,084,262
Infrastructure development	4,886,256	4,674,285
Total land and land development costs	$15,910,309	$20,352,066

     The decrease in land improvements designated for development ($957,685) was primarily due to a land sale with a basis of $927,231.  The carrying value of land improvements designated for development reflects an impairment expense of $0 in Fiscal 2013 and $7,000 in Fiscal 2012.  The decrease in residential development cost of $3,696,043 was primarily related to $3,500,000 impairment expense taken on the future condominium at Boulder Lake Village.