Other Assets and Liabilities

6 Months Ended

Jun. 30, 2011

Other Assets and Liabilities [Abstract]

OTHER ASSETS AND LIABILITIES

NOTE 7 OTHER ASSETS AND LIABILITIES

The following table summarizes the significant components of prepaid expenses and other assets.

	June 30,		December 31,
(in thousands)	2011		2010
Special Improvement District receivable	$	45,089	$	46,250
MUD and other receivables		46,194		33,455
Prepaid expenses		5,135		2,859
Below-market ground leases (Note 2)		20,849		21,018
Security and escrow deposits		8,049		6,814
Above-market tenant leases (Note 2)		6		119
Uncertain tax position asset		10,407		8,945
Other		5,416		7,127
	$	141,145	$	126,587

The following table summarizes the significant components of accounts payable and accrued expenses.

	June 30,		December 31,
(in thousands)	2011		2010
Construction payable	$	6,559	$	15,531
Accounts payable and accrued expenses		20,962		29,745
Above-market ground leases (Note 2)		2,671		2,907
Deferred gains/income		8,377		5,631
Accrued interest		1,496		1,633
Accrued real estate taxes		3,535		3,953
Tenant and other deposits		3,467		3,555
Insurance reserve		4,212		4,229
Accrued payroll and other employee liabilities		5,078		3,930
Other		9,482		7,722
Total accounts payable and accrued expenses	$	65,839	$	78,836